Govt Borrowed Dollars at 12% While $4 Billion Given Interest-Free to 50 Individuals in Past: Musadik Malik

Islamabad:Federal Minister Musadik Malik has said that the Government of Pakistan obtains dollars at an interest rate of **12 percent**, while in a previous era **$4 billion was given interest-free to just 50 individuals**.

Addressing the **Pakistan Policy Dialogue**, Musadik Malik questioned why concerns are raised about widespread poverty when such a large amount could have been used to establish small factories and provide employment opportunities to youth across the country.

He stated that in Pakistan, the path to prosperity has become limited to **power and access**, emphasizing that true development will only come when **equal employment and business opportunities** are available to every citizen. He stressed that the practice of providing **cheap electricity, gas, and tax exemptions to a specific elite class** must come to an end.

The federal minister said the state should move away from the role of **“running businesses”** and instead act as a **facilitator**. He added that **privatization is not an ideological agenda**, but rather a mechanism to correct **market inefficiencies** and improve economic governance.