KP minister reacts sharply to Dar’s statement about state of economy

PESHAWAR: Finance Minister of Khyber Pakhtunkhwa Taimur Saleem Jhagra has reacted sharply to a video statement of federal Finance Minister Ishaq Dar in which the latter stated there is no or minimal risk of Pakistan defaulting on repayment of loans.

Speaking at a news conference along with provincial Minister for Higher Education Kamran Bangash on Sunday, he said that the IMF is not confident about the prospects of Pakistani economy, so they are “hesitating before releasing their second tranche”.

The value of dollar may have come under control in the interbank market, but one dollar is still worth Rs240 in the open market. Due to this rate difference, international remittances are declining, and the Pakistanis abroad are sending money through open market channels instead of banks.

The government should stop filing “false cases” against Pakistan Tehreek-e-Insaf Chairman Imran Khan and focus on the economy instead, said the provincial minister.

While criticising the federal government’s economic policies, he said the “imported government” has been unable to handle the country’s economy.

Referring to the article of Miftah Ismail that was published in a well-known newspaper, he claimed that the former federal minister had mentioned the sitting government’s failures on the economic front.

About the media statements and announcements of the prime minister regarding rehabilitation of the flood-effected people, Taimur Saleem Jhagra said that Shehbaz Sharif had not given a single penny to his own province of Punjab on that account, let alone Khyber Pakhtunkhwa.

He said the incumbent coalition government’s track record of several months is worrisome and that the direction of the country’s economy should be corrected. “If the imported government does not talk about the economy, then we will. We cannot lie to the public and media about the economy.”

When asked by a journalist as to why the provincial government does not sit down with the federal government and solve the problems, the provincial minister said that Miftah Ismail was asked to sit down with his party leaders and so was Ishaq Dar.

Addressing the federal minister, he remarked: “Dar Sahib, your government, and its allies are behind the country’s bad economy (and its collapse). Political stability is essential for the economy. And political stability will come from elections so that the government gets a mandate of five years.”

Copyright Business Recorder, 2022