Senior economist Dr. Ashfaque Hasan Khan Exposes PMLN economic Hitman Ishaq Dar false reporting on ARY News
Senior economist Dr. Ashfaque Hasan Khan Exposes PMLN economic Hitman Ishaq Dar false reporting on ARY News Power Play with Arshad Sharif (11.06.19)
“Today what happened with the Rupee exchange rate was that which was bound to happen which I for last 2 and half years I kept stating that this year Pakistan’s current account would have a deficit of US 18 billion and now seeing is believing that is now exactly US 18 billion. For people like me we advise on forecasts and it was the responsibility of the government at the time to ensure that it did not get to US 18 billion but no action was taken. After Ishaq Dar left the new Finance Minister that came Miftah Ismail made tall claims that PMLN had put Pakistan’s economy on the right track and there would be no need for an IMF program, whatever currency adjustment was needed had been done nothing was need and everything is good. Today the Finance minister’s officers who were also with Miftah Ismail at the time also stated all was well, but as soon as Miftah Ismail went and at the briefing they gave to the caretaker PM they said the circular debt had been ruined and everything is ruined we have no choice to go to IMF. See if we have civil servants like this who change their stance within 48 hours and then start to say we are robbed and Pakistan economy is ruined. This moment in time we have never had such a weak Ministry of Finance. Our challenges are becoming intense and more intense and those that should address this are getting weaker and weaker I don’t know if this has been done deliberately or It is a coincidence that there’s such a shortage of quality civil servants in the country that one could not be found to head Ministry of Finance.
The ground realities at present in our external balance of payment is under pressure from the foreign exchange rate and will continue to exert pressure. We don’t have any reserve the finance minister used to give fake figures and I was screaming about this for 2 years. Figure Fudging and not given correct figures the first time IMF pointed out that our net reserve was negative which is what I was saying the last 2 years and I asked Ministry of Finance and State Bank that if they want to refute this my platform to discussion is open but no one came. These things were all in everyone’s knowledge but sadly no one took interest.”