MULTAN: Pakistan Tehreek-e-Insaf Vice-Chairman Shah Mahmood Qureshi said on Sunday that the current federal government had pushed the country towards default in only nine months.
He said Captain (r) Safdar was giving statements that the narrative of Nawaz Sharif was irrelevant in Pakistani politics, while raising the question why Shahid Khaqan Abbasi was resigning from the party’s post.
The PTI’s stalwart said the textile industry of the country was short of raw material and the government had no foreign exchange for the opening of the letter of credit (LCs).
He added one dollar was equal to Rs178 on April 9 while today its rate had reached to Rs276 while mentioning the inflation would increase given the depreciation in the value of the rupee.
Read more: IMF says as virtual talks to continue, stresses timely implementation of policies
Pakistan and the International Monetary Fund (IMF) have agreed to continue talks on a bailout deal, the statement added, implying that an agreement to revive the program through a staff-level agreement may still take some time as Pakistan moves to execute the prior actions.
“Virtual discussions will continue in the coming days,” IMF Pakistan Mission Chief Nathan Porter said in a statement, thanking the authorities for the “constructive discussions”.
