Poverty Rate in Pakistan Reaches 29%, Says KP Finance Advisor Muzzammil Aslam

Advisor to the KP Chief Minister on Finance Muzzammil Aslam, while addressing a press conference at Khyber Pakhtunkhwa House Islamabad on Thursday, said that the poverty rate in the country is increasing. At present, poverty stands at 29 percent, and the difficulties of the common man are increasing day by day.
Muzzammil Aslam said that Khyber Pakhtunkhwa’s dues from the federal government amount to Rs 4,750 billion. When payment of these dues is demanded from the federation, they respond by saying that you are aware of the country’s economic condition. Khyber Pakhtunkhwa’s position is that the dues should first be settled, and then a mechanism for payment can be worked out.
Muzzammil Aslam said that Shehbaz Sharif, while speaking at the Pakistan Governance Forum yesterday, admitted that the country had gone bankrupt in June 2023, whereas his government took office in April 2022. This means that within one year, the PDM government had driven the country into bankruptcy.
He said another important point the Prime Minister made in his speech was that inflation had reached 38 percent in June 2023, while in 2022, during the Pakistan Tehreek-e-Insaf government, inflation was only 12 percent.
Muzzammil Aslam said the Prime Minister also acknowledged in his speech that the tax rate in the country is very high and would be reduced in the next budget. However, he said he does not think the IMF would agree to a reduction, as the government has failed to meet its tax targets.
He said Prime Minister Shehbaz Sharif was also taking credit for shutting down Utility Stores and the Public Works Department (PWD). Perhaps he is the first head of a country in the world to take credit for closing institutions.
Muzzammil Aslam said that the Securities and Exchange Commission of Pakistan issued a clarification stating that the news about 127 companies leaving the country is incorrect; rather, this figure represents the total record from 1977 until now. In fact, from 2022 to 2025, only 19 companies have left the country, and this is being stated with pride. At the same time, it was clarified that during this period, 1,157 companies were registered in the country.
Muzzammil Aslam said that, in contrast, 47,000 companies of Pakistani investors are registered in Dubai, and 33,000 Pakistani investors’ companies are registered with the Dubai Chamber of Commerce, which is a sign of hope. The day conditions improve in the country, this will be a source of hope for Pakistan.
He said that today the stock market has increased by 4,000 points, and investors had lost 10 billion dollars in capital, while even now the stock market results are not satisfactory.
Muzzammil Aslam said that the Khyber Pakhtunkhwa government has announced a Ramadan package of Rs 12,500 per family, which will be provided to one million families.