اردو
  • ISPR should refrain from commenting on state of the economy: Ahsan Iqbal

    Interior Minister reacted to statements of army officials on dwindling economy in the country Interior Minister reacted to statements of army officials on dwindling economy in the country

    Interior Minister Asan Iqbal on Friday said that the Director General of Inter-Services Public Relations (ISPR) ,Maj Gen Asif Ghafoor, should refrain from commenting on the country's economic situation.

    Awami Muslim League chief Sheikh Rasheed claimed that Iqbal's comments were directed at Chief of Army Staff Qamar Jawed Bajwa who, earlier this week, addressed economists and businessmen during a seminar in Karachi.

    Gen Bajwa had said Pakistan needs to expand its tax base, bring in financial discipline and ensure continuity of economic policies to be able to break the begging bowl, military's media wing had reported.

    “The economy is showing mixed indicators,” he had said before an audience of businessmen and the military leadership of Karachi at a daylong event organised by the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and ISPR at the DHA Golf Club on Wednesday.

    “Growth has picked up but the debts are sky high. [The situation regarding] infrastructure and energy have improved considerably but the current account balance is not in our favour,” Bajwa was quoted as saying.

    The closest Gen Bajwa came to identifying economic priorities was when he stressed the need for widening the tax base, bringing in fiscal discipline and ensuring continuity of economic policies.

    "Pakistan's economy is stable," Ahsan Iqbal asserted. "Irresponsible statements will bring disrepute to the country," Iqbal added, claiming that the economy today was doing a lot better than it was in 2013.

    It is pertinent to mention that the World Bank has also warned that macroeconomic risks in Pakistan have increased substantially during the fiscal year 2017, as the external balance is particularly vulnerable given the persistent current account deficit, affecting the country’s reserve position.

    Pakistan’s weaker macroeconomic discipline has led to vulnerabilities in the balance of payments. Since the IMF programme came to an end, external indicators of the economy have deteriorated, says ‘The South Asia Economic Focus Fall 2017’ released earlier this month, ahead of the World Bank and IMF annual meetings.