Pakistan

Fawad insists economy 'headed in the right direction'

  • Says improvement to be seen in 2022 as various social protection programmes come into effect
Published December 31, 2021

Federal Minister for Information and Broadcasting Fawad Chaudhry said on Friday that the opposition leaders did not need to worry about the country's economy as “it was headed in the right direction”.

His remarks, made while speaking to the media in Lahore, come after the National Assembly attempted to deliberate on various bills that included withdrawing tax exemptions, and the central bank autonomy. While the NA session was adjourned, the opposition continued its tirade against the government, saying that the economy was in shambles as the inflation rate had increased, and the rupee hit a record low.

However, dispelling the notion that the country was going to default, Fawad said that the economy was growing at a rate of five per cent and will further stabilise in the coming months.

Fawad said several social protection programmes will kick into effect in 2022, which will help improve the overall economic situation of the country, and insisted that the economy will be “far better” by August 2022.

“Also, take an example of the coronavirus pandemic as such calamities occur once in 100 years and Pakistan's strategy to tackle it is being praised worldwide,” he added.

Sharif family blackmails courts like Sicilian mafia, says Fawad

Meanwhile, Fawad said that the government had paid a sum of $32 billion in its first three years as debt payment, and will return another $55 billion in the next two years.

“We are paying the price for the legacy left by Nawaz and Zardari governments,” he reiterated.

Turning his guns towards the opposition, Fawad said that political parties panicked after the government expressed its intent to bring former premier Nawaz Sharif back to Pakistan.

Fawad also urged the Lahore High Court (LHC) to take steps to bring back Nawaz Sharif at the earliest.

He added that corruption and money laundering cases involving Shehbaz Sharif should also be heard on a day-to-day basis.

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