Faisal Vawda says PML-N artificially controlled dollar prices

KARACHI: Exposing reason behind devaluation of Pakistani rupee against dollar, Pakistan Tehreek-e-Insaf (PTI) leader Faisal Vawda on Friday said the Pakistan Muslim League-Nawaz (PML-N) government had artificially pumped the national currency.

Talking to ARY News program ‘Aitraz Hai’, the federal minister for water resources said former finance minister and PML-N leader Miftah Ismail had acknowledged that they had contained dollar through unfair means.

“They had done it only to show public that everything was fine, while the country’s economy was being damaged. I appreciate Miftah Ismail for this brave acknowledgement,” he said.

The PTI leader also said if former finance minister Ishaq Dar would have been an honest person, he would not have fled the country.

Read More: Rupee recovered by Rs2 against US Dollar in inter-bank market

He said the PTI government was carrying the burden of several dozen years of different governments’ tenures. However, he said, the situation would be under control in a matter of few months.

“Dollar has already started dropping after spike,” he said.

To a query, he said in his personal capacity he was never against taking loan from the International Monetary Fund (IMF).

“Whereas, the practice of taking loans for personal kickbacks and misuse is condemnable,” he said.

He said the government had sought no bail out package from Saudi Arabia so far. He said when the prime minister went to Riyadh he did not strike any deal for financial aid.

The federal minister said the foreign minister was executing his duties very well.