News Analysis |
Prime Minister Imran Khan has once again assured the nation not to worry about the ongoing economic crisis in the country. He maintained that his government was taking steps to ensure that a shortage of dollars would not exist in the future. The prime minister was addressing a ceremony in Islamabad when he spoke on the dollar reaching an all-time high of Rs142 in the interbank.
The prime minister said he had been receiving calls since morning about the hike in the dollar price. “I want to tell everyone not to worry about the dollar hike. There is an adjustment taking place. We are taking steps which will ensure that there won’t be a shortage of dollars in Pakistan.” The prime minister highlighted that Pakistan’s biggest problem was the current account deficit which stood at almost $18.5 billion.
PPP and PML-N are responsible for this disaster. Let’s pay our taxes honestly and say goodbye to imported brands culture.
“The government is tasked with overcoming the deficit. When there is pressure on the dollar, the exchange rate increases.” As a matter of PTI-led government is being severely criticized by the opposition and some segment of Pakistani media for not being able to manage economic affairs properly. The PML-N-led opposition has bashed at PM Khan after his government decided to seek loan from the IMF.
PM Khan had maintained always that his government won’t go to seek aid under any circumstance. But miserable economic conditions compelled PM Khan to do contrary to what he had promised for. It is worth mentioning here that the PM Khan was recently irked to see the response of media and opposition after the announcement of seeking help from the IMF.
He said an impression had been created in the last 48 hours “as if the sky is going to fall [or] the day of judgement is upon us”, but instead sought to explain the issues faced by the economy. Like many analysts in Pakistan, PM Khan maintained that the current economic crisis has been created by the previous governments.
The prime minister highlighted that Pakistan’s biggest problem was the current account deficit which stood at almost $18.5 billion.
He said the previous governments had taken loans recklessly, which has resulted in the country’s debt ballooning from Rs 6 trillion to Rs 30 trillion in the past 10 years alone. A social media user pointed out the reasons behind the ongoing economic challenge, saying “Current situation of Pakistan economy is not the result of PTI.
PPP and PML-N are responsible for this disaster. Let’s pay our taxes honestly and say goodbye to imported brands culture. Donate Pakistan don’t b looters and chors like big fish like NS and AAZ.”
Current situation of PAKISTAN economy is not the result of PTI.
PPP and PMLn are responsible for this disaster..Let's pay our taxes honestly and say goodbye to imported brands culture. Donate PAKISTAN..don't b looters and chors like big fish like NS and AAZ.#SavePakEconomy
— Unaiza Butt (@UnaizaButt) October 10, 2018
Moreover, PM Khan reiterated that the government is seeking funds from external sources only for the short term, as the economic reforms and austerity measures initiated by his government “will take six months to show results”.