ISLAMABAD - The ruling Pakistan Muslim League-Nawaz will not let economy fall into the hands of usurpers, Finance Minister Ishaq Dar said on Saturday, suggesting politics be banned for two years in order to take economy to stability.
The minister, in an interview with a private television here, said the prevailing inflation, which fell on PML-N’s account, was mainly because of the former government of Pakistan People’s Party not achieving its goals.
“Increase in power tariff and prices of other commodities had to be done by the outgoing government. But they did not increase prices only due to their politics,” he added.
The minister reasserted the incumbent government would not let usurpers take charge of the country’s economy. “We would progress only the day we learnt to live within our resources”. He also recalled the PML-N government had made the State Bank of Pakistan a sovereign institution.
Dar noted that certain economists had sworn to present a distorted picture of Pakistan’s economy. “Our economy has improved; our electricity generation has also increased. And if those having understanding of economics do not feel any difference they could come forward and take the responsibilities.”
He further said the government paid circular debts in six months due to which power generation had been increased. Besides, he added, revenue had gone up and economy had become stable.
Dar said certain people had made up their mind to take US dollar up against Pak rupee. But, he added, efforts were being made to keep US dollar stable around Rs102. He said a dip had been registered in US dollar price and that it would further go downward.
According to the minister, Pakistan incurred a loss of Rs 67billion with a one rupee increase in US dollar price. “Still some people say it would go as high as Rs114, but I will not let this happen,” he averred.
“There are people who are not allowing Pak rupee value to pick up” said Dar as he vowed he would not let rumormongers, who had done much harm to the country’s economy, fulfill their indiscriminate aims.
He alleged that these elements wanted to raise US dollar price for their vested interests.
To a question, Dar said the International Finance Corporation approached him for floatation of ‘Global Rupee’ and ‘Euro Dollar’ bonds.
The minister also said the government was making full-fledged arrangements for restoration of national economy and provision of jobs to the unemployed.