Shah Mehmood Qureshi criticises govt over Rupee devaluation

LAHORE: Former Foreign Minister and Pakistan Tehreek-e-Insaf (PTI) Vice-President Shah Mehmood Qureshi has criticised the coalition government over rupee devaluation, saying that the current regime only wants to complete its tenure.

In a statement, the former federal minister claimed that the current rulers want to complete their tenure by force, while the country’s economy was deteriorating.

“The government doesn’t care about the country’s economy. The rupee is continuously depreciating, which will bring a new storm of inflation. However, the government has not taken any step in this regard,” he added.

The PTI leader further said that the incumbent regime’s only agenda was to amend the National Accountability Bureau (NAB) laws. He claimed that Punjab has performed far better than Sindh in the last three-and-a-half-year tenure.

Speaking about the recently-concluded Punjab by-elections, Shah Mehmood Qureshi blamed PPP co-Chairman Asif Ali Zardari for the loss of Pakistan Muslim League-Nawaz (PML-N).

He also criticised the government for offering money to PTI lawmakers, saying that the rulers were doing violation of Supreme Court’s (SC) orders.

It is pertinent to mention here that the dollar rate reached an all-time high against the Pakistani rupee and was trading at Rs 225 in the interbank market.  Political unrest wreaked havoc on the currency market for the second consecutive day.

According to details, the greenback spiked sharply by Rs3.01 in the interbank market to settle at Rs 225. The USD was trading at Rs226-227 in the open bank market.