Economy sinking, Ishaq Dar flying
The new year began with all economic problems being linked to the faulty policies of Shaukat Aziz. The new finance minister presented statistics to prove that the previous government was manhandling the economic situation and promised a bright future with immediate results. He did manage to complete half his promise, the latter part. The results are definitely immediate!
1) The Pakistani Rupee has suddenly lost its value against dollar which was extremely stable at around 60 Rs. mark before Shaukat Aziz left. I’m sure Mr. Dar can somehow link that to Mr. Aziz’s policies too.
2) Stock Markets taking a downward trend with KSE going below the 14k mark. During Shaukat Aziz’s tenure, any sort of downward market trend was linked to government conspiracy by Mr. Dar, what is it now?
3) Investors taking money out of Pakistan due to unstable political conditions. If democracy brings that, then good bye democracy!
4) Foreign exchange reserves dipping below the $9 billion mark. Is someone taking money out of that too?!!!!
5) Petrol prices being raised twice after taking charge. Well, again, the previous government didn’t raise the price for 18 months after lowering it to around Rs.56/litre. And despite the soaring international prices they continued to give subsidy and finally raised it after 18 months. But here, 2 raises in 2 months is fast. Someone used to say really lash out at Mr. Aziz in the earlier days.
6) Wheat crisis prolonged! Assume or believe that this was due to Mr. Aziz’s policies. But what has the new government done to control it?? Nothing very practical.
All this and that, the dear minister also skipped the ECC meeting to solve the issue of judges, in London! That meeting isn’t privately financed either. Government funds being nicely spent on flying people abroad to discuss national issues isn’t catching the attention of our FREE AND FAIR MEDIA (Surprising).
While all these immediate results have proved the worth of Mr. Dar, coupled with his previous tenure of economic mismanagement, it is imperative that an immediate change of person follows in this ministry to pacify the fears of investors and the business community.
The fact that the economy is crumbling after the tenure of Mr. Aziz (or Dr. Salman Shah) and AFTER Mr. Dar being sworn in as the finance minister is enough to predict the future. Talking of future, it is highly unlikely that PML-N continues to keep the ministries. Probably, this fact was long known hence the gross negligence.