Imran denounces the Pakistani government for the current economic crisis

By Hamza Ameer

Islamabad, July 20 (SocialNews.XYZ) Former Prime Minister and Chairman of Pakistan Tehreek-e-Insaf (PTI) Imran Khan has criticized the ruling government led by Prime Minister Shehbaz Sharif for failing to s tackling the prevailing economic crisis in the country.

Khan said the Sharif family has never been competent to handle the difficult economic situation in Pakistan.

“The Sharif family never had expertise in managing the economy,” Khan said.

Recalling his stint in power, Khan said: “In April this year, the rupee stood at 178 rupees against the US dollar. Today it is at 224 rupees and is in freefall despite the agreement of the IMF (International Monetary Fund). The economic collapse shows that the only expertise of the Sharif family is looting, money laundering and obtaining NRO.”

“The nation will hold accountable all those who are responsible for the regime change plot and who have brought Pakistan into this sad state of affairs,” he added.

Khan’s statement is identical at a time when the Pakistani rupee is down sharply against the dollar as the market has lost more than 1,500 points in the past two trading days.

The political uncertainty prevailing in the country, coupled with an unstable government that seems uncertain about its continued power, has raised serious doubts among the business community.

The fall of the Pakistani rupee against the dollar also led Fitch Ratings to downgrade the country’s economic growth from “stable” to “negative”.

“We are aware of the IMF Executive Board’s approval of Pakistan’s new staff-level agreement with the IMF, but we see considerable risks to its implementation and continued access to funding after the program expires in June 2023 in a difficult economic and political climate,” Fitch said.

The deterioration of Pakistan’s external liquidity and financing situation, coupled with the risks of further political instability, is causing severe damage to the country’s financial situation, and a clear threat of bankruptcy has begun to appear.

Analysts believe that holding a general election is the only option left on the government’s table, as it would lead to political certainty and appoint a new government for at least five years, which could stabilize the uncertain political shocks facing the country is facing. at present.

However, the government in power believes that its priority is not the holding of elections, as it prepares to take more difficult and unpopular decisions in the coming days, aimed at ensuring the economic stability of the country.

Source: IANS

Imran denounces the Pakistani government for the current economic crisis

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