WEB DESK
The former prime minister and Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan on Monday said that fresh elections were critical to ousting a group of usurpers in whom the world has no confidence and bring an elected government that can take the necessary steps to correct the economy.
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He said this while summoning a meeting of his top economic advisors including former federal finance minister Shaukat Tarin, former federal commerce minister Hammad Azhar Syed Muzammil, former federal minister Omer Ayub, Salman Shah and other outside experts. In his short address at the start of the meeting, Imran said that the country was currently facing severe economic challenges.
“I am not just addressing my supporters but also the institutions,” he said, adding that one part of the national security policy which his government had created, had one key part as the military and the other was economics. “All of us should think where we are standing right now,” he said addressing the powerful establishment but also the judiciary. He also questioned the business community. “I am surprised why they are not raising their voices,” Imran said, adding that it was the business community that was the worst affected due to the current scenario.
“The small and medium industry, the exporter are being crushed,” the former prime minister said, adding that the overseas Pakistanis to are not sending as many remittances as they were during the PTI tenure. “The overseas Pakistanis need to be asked why they are not sending remittances,” he said as he extolled how during his administration, the Pakistan Economic Survey had noted that their tax collection, exports, agricultural production and remittances were at record levels.
He accused the ruling coalition of the current economic situation, noting that for the past 30 years, the Pakistan Muslim League-Nawaz (PML-N) Pakistan Peoples Party (PPP) only piled on a load of loans on the country, increasing them by a record level, he said.
Imran added that today, we are being crushed under the weight of loan repayments and other payments such as the payments in dollars to be made to companies who came and set up power plants and other businesses.
“The rupee is also losing value, with the difference between its value in the open market and banking channel rising to over Rs10. This is why people are resorting to using hundi because they are getting a better rate from the market.
He added that foreign investors and commercial banks are unwilling to invest in Pakistan because the country’s credit rating was very poor with high risk because of Pakistan’s ability to pay back its loans.
