Political instability leads to economic crunch

ISLAMABAD: Former prime minister and PML-N Chief Muhammad Nawaz Sharif on Thursday said certain decisions lead the nations to political instability and economic crunch.

“I had stated at the Quetta gathering that such decisions lead the nations to political instability and finally to economic crunch,” he said talking to media in London.

“Pakistan is passing through an unwelcoming phase and such phases in no way favour any nation. Today, there are hurdles all around and the country is once again heading towards instability that is apparent from its economic indicators and stock market.

He said the PML-N government after continued struggle of four years had been successful to drive country on the road to prosperity. “Load-shedding has been curtailed, terrorist incidents have mitigated manifold and CPEC is progressing at full pace. But, the situation that emerged recently feels like reversing the outcome of the PML-N government policies.”

“The situation is deteriorating with stock market dipping to 37,000 points from previous 54,000 points. Other economic indicators like slowing down of CPEC (China Pakistan Economic Corridor) and economic growth are also thought provoking.” Nawaz Sharif said it was a regrettable situation that economy was once again bearing the brunt of political instability.

He said today power supply was more than the demand as the PML-N government had fulfilled its commitment to steer the people out of darkness of previous regimes.