ISLAMABAD, Pakistan: Pakistan Tehreek-e-Insaf (PTI) on Friday urged Prime Minister Shahid Khaqan Abbasi to declare Economic Emergency in the Country, claiming that the former prime minister’s economic policies have brought the Country on the verge of disaster.
In a statement, the PTI senior leader and Member of National Assembly Asad Umer stressed upon the need to make drastic changes to Nawaz Sharif regime’s disastrous economic policies to rescue the sinking ship of national economy.
The PTI senior leader said that pursuit of failed economic policies of last four years; even by incumbent Prime Minister Shahid Khaqan Abbasi’s economic administrator has actually brought national economy under an unusual threat which casts direct shadows over national security.
Asad Umar said that Pakistan’s external debt and liabilities have increased by a whopping $9 billion last year reaching a staggering $83 billion and this external debt volume is now more than 400 percent of Country’s exports.
The PTI leader said that the most worrying part is that even external debt sharply rises; country’s reserves continue to fall and there is a decline of $4.6 billion since International Monetary Fund (IMF) program ended.
Adad Umar said that PTI has warned for two years that the Finance Minister Ishaq Dar’s policies are sinking Pakistan into a debt trap and now the situation is even worse than our prediction.