Present conditions are self-inflicted wound, laments Nawaz Sharif

LAHORE: Pakistan’s currency, economic and the system has devastated, and prices increased by five-fold, former prime minister Nawaz Sharif said on Thursday.

Pakistan Muslim League-Nawaz’s supreme leader was addressing officials of the Lahore Chamber of Commerce and Industry (LCCI) today.

“It is our responsibility and duty to emancipate the people from price hike and poverty,” Nawaz Sharif, who returned from self-exile in London on October 21, addressing to businessmen said.

“People want education, health facilities and development,” he said. “It is their right, and it is responsibility of the state to provide these facilities,” PML-N leader said.

Nawaz claimed that Pakistan was became 24th largest global economy between 2013 to 2017. “We kept the US dollar static at Rs 104 rate for four years. The dollar would have dropped to Rs40 to 50 if our policies and development process were not interrupted,” he claimed.

“Today we are desperate for one billion dollars, it is self-inflicted harm we committed to us,” he said. “These miserable conditions are consequence of our own decisions,” he lamented.

“The policy rate has soared to 22 percent, which was 6.25 during our tenure,” he said. “Who can do business at 22 percent rate,” he questioned.

“We have ourselves committed excesses with the Parliament and prime ministers,” Nawaz Sharif said. “See, who was handed over the country. The rupee, economy and all systems suffered devastation”.

“Those who were paying Rs 1,000 monthly electricity bill, now paying 15,000 rupees,” he said. “Prices of everything, have soared by five-fold,” he added.