Inflation remained at 12.8pc in PPP’s govt, Asad Umar responds to Bilawal

ISLAMABAD: Pakistan Tehreek-e-Insaf (PTI) leader and former finance minister Asad Umar on Wednesday said inflation rate was remained at 12.8 per cent in PPP government tenure and budget deficit remained between 7 to 8.8 per cent.

He was responding to criticism made by Pakistan People’s Party (PPP) chairman Bilawal Bhutto Zardari regarding economic situation at the floor of the National Assembly.

Umar admitted that Pakistan’s growth rate is not at the level, what was predicted and termed heavy payments of loans as main cause of the low growth rate.

“Heavy payments of loan soon after becoming in power forced government to take some hard decisions”, he said.

Stating that “Bilawal is very concerned that debts are rising”, the former finance minister said, “During PPP’s government, debts rose by 135%.”

Talking a jibe at Bilawal, the former finance minister said, seems the PPP leader is unaware that overall growth rate remained at 2.8 per cent in their tenure of government, adding that it was recorded at 0.4 per cent in the first year of PPP government rule.

The PTI leader admitted that inflation has increased in the tenure of the incumbent government, but the same was recorded at 12.8 per cent in PPP’s tenure.

“Now when money is being recovered from Faloda Wala, Swiss and other fake accounts, such things will happen, we can understand”, he contented.

Commenting on the changing of finance minister, Umar recalled that four finance ministers were changed in PPP’s tenure, if this was the criteria to judge government’s performance, what PPP chairman will say about this fact?

He said people of Pakistan are aware about the facts and added that steps are being taken for the uplift of country’s economy. “Inshallah Pakistan will make progress”, he continued.