Incumbent govt has no credibility in financial markets, claims Imran

Former prime minister and Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan said Thursday that the incumbent government has no credibility in domestic and global financial markets, warning that the current regime has no plan to prevent the economy from collapsing, Aaj News reported.

While addressing the nation, the former premier reiterated that without political stability, economic stability cannot return to the country.

Imran said that the coalition government had claimed that economic stability would return to the country once the International Monetary Fund (IMF) programme was finalised.

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“But the conditions today are in front of the people. They agreed to all the IMF conditions and then came the historic inflation […] Pakistan has never seen inflation like this in its history […] the rupee is still depreciating and will continue to fall until political stability arrives,” he underscored.

PTI chairman emphasised that only free and fair elections can resolve the current political crisis and allow space for economic stability.

“If anyone thinks that we [PTI] are facing a loss because of delayed elections, I can claim, that never in Pakistan’s history did a political party have popularity as much as PTI did. If there is one federal party that can unite Pakistan, it is PTI.”

Rejecting the incumbent government's claim that PTI left behind “landmines”, Imran said that when his party came to power in 2018, the country’s current account deficit stood at $20 billion.

“We brought more dollars into the country and reduced our deficit, but propaganda is done again and again,” he said.

Questioning the government’s strategy to cope with the worst monsoon floods in decades, he said that the current administration doesn't have any plan for the rehabilitation of the affected people.

Imran reiterated that elections should be announced immediately. "We will have to give a call to the nation if things continue like this," he concluded.