Pakistan facing acute financial crisis: FBR Chairman

LAHORE: FBR Chairman Salman Siddique has said that Pakistan was running on loans, while the country currently facing severe financial crisis, as the budget deficit has swelled up to Rs600 billion.

Addressing Lahore Chamber of Commerce, FBR Chairman, Salman Siddique said that seeking assistance from IMF was due to our utter inability and if required, we could again approach them.

He said, “Everyone in Pakistan criticizes, but none is prepared to pay tax. The entire amount thus collected is spent on defence and payment of loans.”

FBR Chairman said that full implementation on the Afghan Transit Trade Agreement has already started.