Finance Minister Asad Umar on Tuesday attempted to sooth the unnerved investors, reassuring that the balance of payment issue for the current fiscal year has been resolved.
Addressing a moot in Islamabad, the Minister said that all fundamental economic indicators are now showing improvement due to the prudent policies of the incumbent government.
He rejected the notion that the country is facing an economic crisis, saying that those spreading rumours were hurting the country.
Asad Umar statement came in the wake of uncertainty in the financial markets triggered by the steep fall of Pak Rupee against the dollar.
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Regarding the Rupee devaluation, the minister said that the PKR was depreciating against the greenback since the start of this years. The Rupee has so far lost over 30 percent of its value against the dollar.
He said that the independence of the central bank would be protected.
The Prime Minister during a panel interview with senior TV anchors at PM House had said that the government had asked the central bank to intimate the government before taking any decision on Rupee devaluation.
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The Prime Minister Imran Khan had told the anchorperson that he was unaware of the SBP move to devalue the currency against the US dollar.
The premier said although the SBP was an autonomous body, he had asked the authorities that no such decision be taken without taking the government into confidence first.
One statement clearly defines it all. The Prime Minister Imran Khan had told the anchorperson that he was unaware of the SBP move to devalue the currency against the US dollar.
Lack of understanding, lack of direction, lack of capability. Full of hatred, Full of greed, Full of support for Zionizaiton of Pakistan
You have lost me at “Zionizaiton”
People are fast loosing faith in his words due to his in-competency
No one is losing faith. and if you evaluate them I am quite sure 2 other big parties are more incompetent.
Tell that to the industrialists. Our revenue is down 45% and we are only able to increase price by 13% not anymore
So you think revenue down because of these 100 days??? Are evonomy started deteriorating from last year. And govt stll had to deal with current account deficit which was being left by previous govt.
So you think revenue down because of these 100 days??? Our evonomy started deteriorating from last year. And govt stll had to deal with current account deficit which was being left by previous govt. And amazing thing is that previous govt took heavy loans and still not able increase exports. Now everyone asking this govt for last decade turmoil.
Previous government and pti both are responsible. My point is that they are lying saying that everything is good
Nope they aren’t, but they are not saying that things are worst, do you think this govt would like foriegn investors to disperse by saying that? Additional if they say that its worst time stock exchange might have negative effect. And opposition would leave no chance topple them, this would also bring unstability.
LIES LIES LIES LIKE OTHER GOVERNMENTS