Caretaker govt should highlight state of the economy: Asad Umar

ISLAMABAD: Pakistan Tehreek-e-Insaf leader Asad Umar on Tuesday called on the caretaker government to bring forward the complete facts about the dire state of the economy.

Referring to a press conference earlier by interim finance minister Shamshad Akhtar which he termed as a ‘balanced analysis’ about the economy, Asad Umar asked whether it was necessary to take any drastic measures to address the increasing budget deficit.

He called on the interim government to present the full facts about the state of the economy, amid the declining foreign exchange reserves, and even though it was not their responsibility to hold talks with the International Monetary Fund, it was imperative to bring a policy as a way forward for the next government.

Asad Umar said that previous government did not provide complete information about the economy and now there was a looming threat of receiving a bailout, and it was not possible for the interim government to bring policy or improve situation in the next six weeks.

He said former prime minister Shahid Khaqan Abbasi had claimed that loadshedding had been eliminated, but there has been no improvement in the last four years, and instead the caretaker government was being held responsible.

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He said the economy was at a critical juncture, and the PTI is demanding that interim government, without critising any previous government, to highlight about the the state of the economy.

He further said the rupee depreciated by 15percent in the past six months which increased debt burden on each citizen by Rs40,000, and has lead to a hike in the petrol prices. Furthermore, power shortfall was over 4500MW which was similar over four years ago.

He said it seemed that the interim finance minister was being pressurised to present a favourable impression about the state of the economy.

“When I saw the press conference on TV, now that the facts are being known, it seems there was some sort of pressure on her (finance minister) to present a favourable image,” he said.

He said if there would have economic growth if loans worth Rs384 billion were not taken, and how the growth in the real estate sector occured. Therefore, he said it was necessary for her to provide the complete facts about the state of the economy.

He said the economy was in adverse state, and the deficit in one year was now being done over the just one month. He said there was no harm in taking loans from time to time, but it seems that the previous government has completely ruined the economy.