By our correspondent
ISLAMABAD: Federal Minister Senator Musadik Malik criticized the previous government for granting $4 billion in zero-interest loans to just 50 individuals, arguing that the funds could have been better used to support small factories and create employment opportunities for young people.
Musadik Malik made the remarks during the Pakistan Policy Dialogue, highlighting what he described as a stark contrast between the policies of the current administration and those of its predecessor.
Malik pointed out that the present government borrows dollars at an interest rate of 12 per cent, suggesting that the previous approach had entrenched wealth and influence among a limited group while leaving the majority of citizens without equal access to economic opportunity.
“Concentrating resources in the hands of a few undermines social and economic equity,” he said, emphasizing the need for broader distribution of financial support to promote inclusive growth.
The minister also called for an end to subsidies on electricity and gas, as well as tax reliefs for select groups, arguing that the state’s role should focus on facilitating business rather than running enterprises.
He defended privatization measures as pragmatic tools designed to correct market inefficiencies and stimulate economic growth, rather than as an ideological agenda.
Analysts noted that Malik’s comments underscored a wider debate in Pakistan over economic policy and wealth distribution, highlighting tensions between targeted support for established interests and efforts to promote entrepreneurship and employment.
