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Dollar decline a water bubble: Moonis
 
 
 

LAHORE - Pakistan Muslim League-Q leader Moonis Elahi has accused the Nawaz government of burdening the country with an enormous financial debt and failing to provide the poor with any genuine economic relief.
He said this at a meeting with the party workers on Saturday. He termed the recent increase in electricity rates another example of the PML-N government’s miserable performance on the financial front. Moonis dubbed the much-hyped recent dollar decline as an eye wash and a water bubble. Expressing his fears, he said without a steady inflow of foreign investments and capping of a staggering increase in bank borrowings, a mind-boggling commodity price hike looked imminent. He held the N-government's misplaced and flawed economic plans responsible for an unprecedented 20 to 35 per cent increase in prices of essential commodities in the last 10 months. He called the Nawaz government’s claim of an increase of only 7-9 percent in prices nothing more than political jugglery. Moonis held the repeated fuel prices increase in the last 10 months a major cause of skyrocketing rates of all essential items.
He stressed upon the need of implementing strict austerity in government spending, consolidation of currency exchange rate, capping of huge increase in foreign and local bank borrowings and restriction on unbridled printing of rupee as measures immediately required for easing the common man’s financial burden.
 Moonis emphasised the need to include the untaxed and the under-taxed section of the people into the tax net and facilitate the marginalised and deprived sections of the economy. He called upon the PML-N government to desist from its traditional policy of gratifying handpicked individuals and institutions at the cost of the poor people of the country. Sounding his apprehensions, Moonis warned if the government did not revise its current economic policies, it would become extremely improbable to check the rising tide of poverty, price hike and inflation in the coming days.

 
 
on epaper page 4
 
 
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