Tag: loans

  • ‘Imran govt took more loans in two years than Nawaz govt in three tenures’

    ‘Imran govt took more loans in two years than Nawaz govt in three tenures’

    The Prime Minister (PM) Imran Khan-led Pakistan Tehreek-e-Insaf (PTI) government has borrowed more money in two years than all loans taken by former PM Nawaz Sharif’s governments over 25 years in all three tenures, Pakistan Muslim League-Nawaz (PML-N) chief Shehbaz Sharif has claimed.

    The statement came as senior leaders of the PML-N, at a press conference in Islamabad, took turns to criticise the government’s performance in different areas, while presenting a white paper titled “Destruction of National Power” on the PTI’s two-year rule.

    They accused the government of having ruined the country’s economy through its incompetence and pro-elite policies, saying the ruling party had promised a new Pakistan but the people today were yearning for “old Pakistan”.

    According to Dawn, the criticism began with PML-N president and opposition leader, Shehbaz Sharif, lashing out at the premier, saying it did not know the basics of governance and did not care about issues facing the masses.

    “When we talk about the tabdeeli sarkar [regime of change], we don’t find anything to acknowledge but sadness and pain in the past two years,” he said, adding that inflation caused due to the government’s policies had brought the common man “to the brink of destruction”.

    In contrast, he claimed, the PML-N during its tenure under Nawaz’s leadership carried out “historic development” and completed projects at a fast pace that resulted in prosperity.

    He said the incumbent government had “ridiculed” the China-Pakistan Economic Corridor (CPEC) and levelled allegations against the PML-N. “But not a penny’s worth of corruption could be proven. Their plans backfired,” Shehbaz added.

    He said the PTI had failed to prove corruption in any of the projects started by Nawaz despite its “incessant propaganda”.

    Today, he said, sugar was being sold at above Rs100 per kilogramme and was being imported, even though previously the government had allowed its exports to benefit certain persons.

    He noted that it was the “first time in the country’s 72-year history” that there was a shortage of wheat even though the harvesting season had not yet ended, while a minister was wondering where the millions of tonnes of wheat collected by the government went. “Who is he asking? They should know where it went [and was] smuggled to,” Shehbaz said.

    He also said the government had given the public the “biggest shock” by raising petroleum prices even though international prices were very low, and it raised electricity prices to control circular debt but the prices were “touching the sky”, beyond the reach of the common man.

    “Enough electricity exists in the country but load-shedding is still ongoing due to this government’s worst incompetence,” the PML-N president alleged.

    Shehbaz also said the government had devalued the rupee by 40 per cent but in spite of this, no substantial rise in exports was seen. He further said it was the second time in Pakistan’s history that GDP growth had gone negative, to -0.4pc.

    Khawaja Asif and Shahid Khaqan Abbasi also criticised the government for its “failure” on the foreign policy front and over energy sector losses.

  • Coronavirus: PM wants rich countries to waive off Pakistan, other poor countries’ loans

    Coronavirus: PM wants rich countries to waive off Pakistan, other poor countries’ loans

    Prime Minister (PM) Imran Khan has said that rich countries should waive off the loans of poor countries in order to help the latter curb spread of the new coronavirus — COVID-19 — that has become a global pandemic.

    In an interview to a foreign media outlet, the premier predicted that the novel coronavirus would destroy the economy of developing countries. 

    “In case we get swamped by this virus, our health facilities will not be able to cope with it,” he added.

    He also urged the United States (US) to lift sanctions over Iran as they were in a terrible state due to the pandemic and the sanctions had already impoverished Tehran.

    WATCH VIDEO:

    To a question, PM Imran regretted Afghan President Ashraf Ghani’s statement about Taliban. “Solution to the Afghan conflict lies in talks between the shareholders.”

    He said after coming to power, his government had worked on the Afghan Peace Deal with the US and Pakistan was an ally of the US for peace as he had always opposed Islamabad’s inclusion in the war against terror.

    “An extremist government is ruling over India and I have apprised the United Nations (UN) about the grave rights violations of Muslims in India by the Modi government,” he said.