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Has Pakistan’s economy taken a U-turn under PTI’s rule?

April 9 , 2019

Photo: AFP

Pakistan’s economy was in the intensive-care unit but it is now moving towards stability, says Finance Minister Asad Umar.

PTI’s Faisal Vawda says there will soon be a shower of job opportunities in Pakistan. But a recent report by the World Bank says Pakistan’s economic growth will decelerate or slow to 3.4% in the 2019 financial year and 2.7% in the 2020 financial year.

So is Pakistan’s economy stabilising or worsening?

Amber Shamsi asked former finance minister Ishaq Dar this question in the latest episode of SAMAA TV’s programme Sawaal.

Related: Pakistan’s 2020 economic growth to slow to 2.7%: World Bank

Dar says Pakistan’s economy was never in the ICU ward. Rather, the PTI government took it there, he said. “They [PTI] continued with container politics without any vision, effort or plan,” said Dar.

He thinks PTI has wasted its nine months in power. “You cannot change the economic realities,” he said.

Shamsi said there was a debt of trillions at the end of Dar’s tenure as the finance minister. “Did the PML-N leave the economy in the situation it is today?” asked Shamsi. Dar, however, says all economic indicators were positive till June, 2017.

Related: Pakistan out of economic crisis, moving towards stability: Asad Umar

He shared the statistics of the economic indicators. He quoted a report prepared by PricewaterhouseCoopers, a multinational professional services network headquartered in London and considered among the ‘Big Four’ auditors, that said Pakistan’s economy could become the 16th largest by 2050 based on its gross domestic product at purchasing power parity. He said PwC said Pakistan would be included in the g20 in a few years.

“What benefit did the rupee devaluation bring to the economy?” he questioned. This is not the solution, he said.

He criticised the PTI’s policies, saying that the government was creating unemployment instead of employment. “Inflation is increasing at a dangerously high rate,” he said.

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2 Comments

  1. khalid   April 11, 2019 2:44 pm/ Reply

    yes thats what our enemies wanted and our foes who were quite astonished when our kse was booming at 53000+.Now happy days for those who brought this govt with great efforts.This is real TABDEELI in favour of our foes.

  2. Sukruth   April 14, 2019 12:22 am/ Reply

    The Fate and Fortune will Decide the Future of Pakistan Civilian Economy, Not World Bank or anybody else.


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