They said that it’s is universal reality that no state or government can attain the status of strong and stable economy when under heavy foreign debt while Pakistan is under the serious duress of $ 70 billion or above.
Karachi. 24.10.2016: Pakistan People’s Party (PPP) Senators Ajiz Dhamra, Doctor Kareem Khuwaja and Engr Gianchand have said that the IMF has exposed federal government of its tall, baseless and tricky claims about progressive economy. All claims have proven as forts of sands and the fact is that the country’s economy is going to face a collapse in next few months.
In a statement issued from PPP Media Cell Sindh, they said that the IMF has claimed that the rate of inflation would escalate to 5.2 percent from current rate of 2.9 percent and the prices of commodities would also be hiked by 2 to 5 percent and thus the masses especially the lowed and middle classes of the society would be dreadfully affected. The outcome of that skyrocketing inflation and hike in prices would also lead to escalation in unrest, imparity, rise in crime rate and corruption and would tarnish the efforts so far made to eradicate the foes of peace and tranquility. The joblessness would be another major devastating factor for which the government does not have any serious plan to deal with.
They said that PPP has always been contradicting the claims of strong economy but sadly the government and the local media jointly endeavoured to present a “all is good” and highlighted trade activity at stock markets as strong indicators for strong economy.