Former finance minister Ishaq Dar lamented the economic policies of PTI’s government and said that these caused major setback to the country’s stock exchange network.
In an interview to a private tv channel last night, he said the PTI’s policies also led devaluation of Pakistani rupee, that put the country under heavy economic pressures, in term of capital flow and investment.
He said that the merger of stock exchanges of Karachi, Lahore and Islamabad was a landmark achievement of the PML (N) government.
As finance minister he had taken a wise-step by integrating Karachi Stock Exchange (KSE), Lahore Stock Exchange (LSE) Islamabad Stock Exchange (ISE) to form national stock exchange, he said.
Ishaq Dar said that the present government has pushed the country to a devastating stage, since there is around dollar 3,500 billion further increase in the debt burden on the national economy, due to devaluation of Pak rupees in the recent days
He asserted, it was a high time to take some administrative and fiscal steps to safe the country from the economic debacle.
Stating that the present government’s economic policy a complete failure, Dar said it was a time when Pakistan was going to join G-20 Group because of its economic rise during the tenure of previous government, but it was going to reverse back.
Currently, the country’s stock-exchange situation was facing highly miserable position, and it was because of wrong decisions of the present government.
For the God sake, he beseeched, lets safe the country from total economic disaster, by taking wise decisions, preferring national interest, rather following the IMF’s dictates.
Ishaq Dar was of the view the devaluation of the Pakistani rupee over in the recent months was “cruel and unnecessary” decision and that he was deliberately taken to adversely impact the progress achieved in the past, when he was at the helm of the affairs.
He pointed at there was a time when all major financial institutions] had declared the Pakistani rupee as Asia’s ‘most favourite’ currency, but now the things were going reversed back.
Suggesting that the decision to devalue the rupee was taken to deliberately trouble the government, Dar said that “external and internal conspiracies” were joining hands against the country.