Punjab finds itself in the quicksand of debt
Current and former administrations appear to be shifting blame for the crisis
The government’s debt is growing at a double-digit pace due to its inability to enhance revenue at rates that are sufficient to absorb growing current expenditures. PHOTO: FILE
LAHORE:
While Punjab’s spiraling debt appears to be showing no signs of going away, both current and former administrations seem to be sparing no opportunity to pin the blame on each other.
“Loans were acquired for development projects when they should have been taken for projects that benefit the common man,” said Dr. Salman Shah, who serves as adviser to the chief minister for economic affairs. Taking a pot shot at the Pakistan Muslim League Nawaz (PML-N) administration, Shah said: “Projects like the Orange Line Train (OLT) have not made any meaningful contributions.” For the OLT, which has been touted as former chief minister Shehbaz Sharif’s pet project, experts sai