Hitting hard on the economic policy of the Pakistan Tehreek-e-Insaf (PTI) government, former finance minister Ishaq Dar on Tuesday said that the government was committing ‘economic terrorism’ by crushing the common man with heavy inflation.
In an interview to a private TV channel, he said the economy is on the verge of total collapse due to failure of the present government.
Terming the devaluation as a mother of all economic evils, he said at the moment it was leading the country towards economic devastation.
Referring to the State Bank of Pakistan’s report released on Monday, Ishaq Dar said it was reflective of the worst economic policy of the present government.
There was no reason to jacks up the interest rate from 10.75 percent to 12.25 per cent. This will have a very negative impact on the Stock Exchange as well as the overall economy, he added.
The low growth rate, rising inflation, and economic debt speak high of government’s failure in all sectors of the economy, he added.
Ishaq Dar also criticized the six billion’s dollar’s deal with the IMF, stating it was not reasonable by anyway, as it was going to raise the further burden on the national economy.
He also spoke the economic achievements of the PML’s government, which had made the country’s economic ranking and credibility at a higher level World over. There was a time when during their tenure of the government, Pakistan was about to join G-20 group, he added.