Former finance minister Shaukat Tarin on Wednesday reiterated his call for holding general elections in the country, arguing that it will help Pakistan get out of the brewing “economic mess”.
“I want to tell the authorities that there is only one solution to get out of this political and economic mess, and that is to announce the general elections,” said Tarin while addressing a press conference. “A credible interim government should be in place,” he said.
The Pakistan Tehreek-e-Insaf (PTI) Senator said that his party is willing to cooperate with the interim government.
Tarin’s statement comes after Finance Minister Miftah Ismail said the rupee’s sharp fall was solely due to the political crisis in the country.
“Economic fundaments are stable,” said Miftah as he addressed a press conference earlier on Wednesday.
“Dollar is rising against all currencies. In fact, the dollar is at a 22-year high against a basket of strong global currencies. This is because the dollar is a safe haven investment,” he said.
Miftah said the SBP’s Real Effective Exchange Rate (REER) index shows only 3% depreciation since December 2021
The reactions by both Tarin and Miftah come as Pakistan’s rupee has seen relentless depreciation, falling consistently throughout the ongoing week, and touching new highs.
