–PML-N chief urges SBP to bring down interest rate to 9 per cent
–Shehbaz thankful to China for medical help to fight off corona
ISLAMABAD: Pakistan Muslim League-Nawaz (PML-N) President Shehbaz Sharif on Saturday lashed out at the Pakistan Tehreek-e-Insaf (PTI) government for its failure to effectively handle the economy.
In a statement, Shehbaz said that the poor policies will further increase the financial burden on the masses already in a state of crisis amid the coronavirus outbreak.
He pointed out that two separate cuts in the State Bank policy rate a single week showed how “clueless and incompetent” the SBP was.
Shehbaz said he had warned the country over the devastating effects of PTI’s economic policies beforehand and now it was important that the interest rate be brought down to at least 9 per cent. “The government’s and State Bank’s measures did not reap the fruit being speculated by PTI, instead it caused further devastation,” he claimed.
The PML-N chief said his team had warned regarding the danger of depending on hot money, which has now added fuel to the fire of the government’s incompetence and failures. He said the government, instead of providing relief to the people is pushing them into an abyss and warned that the economic disaster will devastate the nation more than the pandemic.
Shehbaz said the government would need to reconsider and revamp its entire approach.
‘THANKFUL TO CHINA’
Earlier in the day, Shehbaz Sharif expressed gratitude to the Chinese leadership for its help in the fight against the coronavirus pandemic.
In separate letters to Chinese President Xi Jinping and Prime Minister Li Keqiang, Shehbaz Sharif wrote that Pakistan and its people and parliament express their gratitude for the resolute support provided by the Chinese government and its people in these testing times.
“Pakistan, its people, and parliament express their gratitude for the resolute support provided by China under your dynamic leadership during this coronavirus crisis which is a global issue for all humanity. When I write these lines, I am conveying the heartfelt sentiments of 220 million Pakistanis since we all know how China faced this crisis, combated this effectively and decisively in a timely manner through a ‘people’s war’ under the direction of Communist Party of China with your leadership in the forefront,” wrote Shehbaz Sharif.
He said that the Chinese help in Pakistan in these trying times proves both countries are ‘iron brothers’. He also referred to the help provided by Chinese President Xi Jinping to Pakistan through the China-Pakistan Economic Corridor (CPEC) since 2013.
Shehbaz Sharif also thanked the Chinese president of the preferential treatment to Pakistan in medical assistance provided to Pakistan which, he said, would help save precious lives and turn the tide in the fight against coronavirus pandemic.
In his letter addressed to Chinese Prime Minister Li Keqiang, Shehbaz Sharif said the coronavirus crisis erupted all of a sudden, with the whole world taken by surprise. He said that China has been a frontline warrior in war, combating, containing and completing the mission of eradication of coronavirus.
“I am well aware of your personal role in this battle as you are heading the working group on combating coronavirus and you personally visited Wuhan within a few weeks of the crisis. When I write these lines, I am conveying the heartfelt sentiments of 220 million Pakistanis,” he added. ‘
He said that Chinese assistance in these trying times is a reaffirmation of our time-tested and strategic partnership.