ISLAMABAD:Minister of State for Finance Dr Aisha Ghous Pasha on Wednesday apprised the National Assembly that past government did not launch any mega development project despite taking massive loans.
Replying to a question during Question Hour, she said that other countries also took loans to enhance their capacities. However, in Pakistan no such initiative was taken despite hefty borrowing, she added.
She said “We have taken the loans for retiring of previous loans. Major chunk of loans spent on debt servicing”.
Regarding current inflationary trend, the minister said international factors had significantly contributed to the price hike of essential commodities.
However, she said responsibility also rested with the provinces to maintain supply chains to check the inflation.