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.
After going through summary of your programme it seems like Pakistani economic conditions are unstable and going to shatter anytime. Asad Omer is absolutely right that govt has spent most of funds on those projects where they can easily steal money and can encash them in election 2018.
Will watch its recording but why are you in same dress again and again. Anyways you always appear classy.
Moeed it would be alot better if you just put up a question and let your guest answer. It’s so annoying to see an amazing anchor like yourself poking them in the middle of answers sometime with a question and sometime with a nonsensical remark. Thanks and please keep up doing programs on economy we youngsters wish to learn about it.