PTI leader Asad Umar and economics expert Dr Asfaque Hasan Khan in “Tonight with Moeed Pirzada” refuted the claims of finance minister Ishaq Dar.
Earlier Dar said that Pakistan has achieved fiscal and monetary stability. He said the country has sufficient foreign currency reserves to finance over four months’ import bills, which in 2013 were not enough to even finance few days’ import bills.
Both agreed that after fiscal year 2013, Pakistan was on the verge of declaring default, as it had very low foreign reserves. Ishaq Dar had to go to IMF for a bailout program. Dr Ashfaque said that the deal with IMF was badly negotiated by the government. Priorities were not set by the minister and the funds were hugely invested on nonprofit projects. He further said that the program was primarily an austerity program. There were no Government’s spending in the economy. The government spent most of the funds on keeping only five years as a time frame just for political purposes.
Asad Umar said that FBR is the most corrupt institution. Tax net is limited to the poor and the rich gets tax amnesty schemes. Loans were secured for the mere reason of building foreign reserves, he said.
