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.
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.
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.