The news is by your side.

Quick decisions needed to fix economy: Asad Umar

ISLAMABAD: Pakistan Tehreek-e-Insaf (PTI) leader Asad Umar has said quick decisions were needed to fix the national economy and the PTI after forming the government would take immediate steps in that regard.

Talking to a private news channel, he said despite having majority, the Pakistan Muslim League-Nawaz (PML-N) government had not privatised a single non-profitable state-owned organisation and taken any steps to resolve the problems being faced by the economy for the last 10 years.

He alleged that the PML-N did not provide level playing fields to the industry and trade sectors. It took foreign loans on massive scale, which were now affecting foreign reserves. The then finance minister Ishaq Dar, who had no knowledge of economy, had artificially increased foreign reserves by taking loans from international organizations, he added.

Asad Umar said decisions regarding exchange rate or monetary policy should be taken by the State Bank and not the finance ministry. There should also be no political intervention, which, in fact, impeded the state institutions from performing their functions properly, he stressed.

To a question, he said the PTI might differ from the policy of International Monitory Fund (IMF) and no decision had yet been taken fro approaching the IMF.

He said PTI Chairman Imran Khan wanted the industry to flourish and his government would provide facilities to the industrialists.

Replying to another query, he said Pakistan, which was currently burdened under $95 billion external loans, would have to reduce its trade deficit.

Meanwhile, Asad Umar had sustained an injury after falling off a horse in a village at the outskirts of the capital a day ago, but was discharged from hospital after treatment.

The MNA-elect, who is most likely to become the next finance minister of the country, went to visit his Islamabad constituency to attend a reception hosted in his honour over his electoral success in the parliamentary elections held on July 25.

Umar was trying to mount the horse when his foot slipped and he fell, according to eyewitnesses.



You might also like