Home »General News » Pakistan » Government’s economic policy a complete failure, says Khaqan
Senior Pakistan Muslim League-Nawaz (PML-N) leader and former Prime Minister Shahid Khaqan Abbasi Thursday criticised the 'failed' economic policy of the government and asked it to take an early decision whether or not to approach International Monetary Fund (IMF) for a bailout package.

Speaking at a news conference here, Abbasi said that the government spokesman on economy Farrukh Saleem had even said that the financial situation of the country is in dire straits, adding it is for the first time in his political history that a spokesman of the government is criticising the policies.

Saleem, who, according to Abbasi, was made the spokesman on economy and now ousted after the statement, acknowledged that the government has failed in resolving its financial matters, adding that Saleem made some concerning comments regarding the government's capacity to deal with the economic challenges. It is also the reason the government is taking additional loans, he added.

He said that the government increased rate of dollar and depreciated rupee but the exports have fallen 6 percent compared to November 2017 and the current account deficit has reached $2billion.

He maintained that the foreign reserves stand at the lowest level in the last 10 years while there has been 10 percent decrease in the tax collection by Federal Bureau of Revenue (FBR).

He pointed out that the government had claimed that it will receive economic package from Saudi Arabia, UAE and China. "If a total economic package of $14billion was supposed to be received from the friendly countries, why the economic crisis continues to exist...the government has to explain its position in this regard," he added.

Abbasi further criticised the government, saying that a second mini-budget is expected and the government is likely to impose more indirect taxes on the masses. "There is uncertainly which has been created by the government itself due to which the stock market is continuously showing negative trends," he said.

He further said that the opposition parties do not need to launch any anti-government movement, adding: "The PTI government will fall under its own weight."

To a question about awarding the contract of Mohmand Dam to Descon - the company owned by Abdul Razak Dawood, the Prime Minister's Adviser on Commerce and Industry, and China Gezhouba and Voith Hydro, Abbasi said that Dawood needs to come up with explanation whether to remain in the government or proceed with availing the bid.

To another question about Federal Minister on Water Resources Faisal Vawda's recent statement about his appearance before the Public Accounts Committee (PAC) headed by Shehbaz Sharif, he said that the PAC has never summoned him but the secretary of his ministry was summoned who is bound under the law to appear before the panel.

"Vawda has said that he is not a servant of anybody's father, but he must understand that being a minister he is servant of the people," he added.

To another question, he said that the opposition parties are united over fundamental issues related to public concerns.

Responding to another question about the situation in Sindh province, he said that Murad Ali Shah is the chief minister of the province as long as he enjoys the support of majority members in the provincial assembly.

To another question about reported NAB inquiry against him, Abbasi said that he has not yet received any notice from the NAB. However, he expressed his readiness to present himself for accountability. "But we know there is the law of persecution and not of the justice," he maintained.

Copyright Business Recorder, 2019


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