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ISLAMABAD: Pakistan People’s Party (PPP) leader Mustafa Nawaz Khokhar on Sunday castigated the economic policies of the Pakistan Democratic Movement (PDM) government, saying the country is inching toward default.
Mustafa Nawaz Khokhar, who recently resigned as the party’s senator, said that the country’s economy is not well, and Pakistan is heading towards default. Claims were made to bring down the US dollar to Rs200 on International Monetary Fund’s (IMF) demands.
معیشت بدستور بدحال اور دیوالیہ ہونے کا خطرہ بڑھ گیا۔ کہا گیا ڈالر دو سو پر آ جائے گا، مہنگائ کم اور آئی ایم ایف کو سیدھا کر دیں گے۔اُلٹا آئی ایم ایف نے مزید ٹیکس لگانے تک اگلی قسط دینے سے ہی انکار کر دیا۔ دوست ممالک بھی پریشان۔ تو پھر مفتاح کو بلی چڑھا کر صرف وزیر بننا مقصود تھا؟
— Mustafa Nawaz Khokhar (@mustafa_nawazk) December 4, 2022
Now the IMF has refused to release the next tranche of loan before the imposition of more taxes, he added.
It is worth mentioning that the former federal finance minister Miftah Ismail in his recent article severely criticized his party-led federal government, claiming that Pakistan is on the verge of ‘default’ as risk has reached a dangerous level.
Miftah Ismail in one of his articles rejected the claim of the incumbent Finance Minister Ishaq Dar regarding the economy and clearly said that the risk of bankruptcy of Pakistan has increased to a dangerous level. “Now the government has no room for error.”
Miftah Ismail further said that even after paying off the bonds in December, the risk of bankruptcy will not end. The PML-N stalwart went on to say that government has no right to criticize PTI or anyone else if it does not do the right thing.
The former minister in his article described the devaluation of the rupee as a major problem in the country’s economy and wrote that today there is a large and constant gap between the open market and interbank exchange rates.
The former finance minister has advised his government that now is the time to prioritize national interest over political interest.
