Pakistan: Ex-PM Imran govt's fake promises under 'Memorandum of Understanding' exposed

A billion-dollar Memorandum of Understanding (MoU) signed in 2020 by former Information and Broadcasting Minister of Pakistan Chaudhry Fawad Hussain, in the Imran Khan-led PTI government, has turned out to be a "memorandum of misunderstanding."

As per reports of The News International, Hussain stated that an electric vehicle manufacturing company would invest four billion dollars in Pakistan to set up a plant for producing electrical automobiles in the country and the move gathered a lot of media hype and praises for the minister.

Fawad Chaudhry had made a statement announcing the MoU in 2020, when he was the Federal Minister of Science and Technology, after signing the memorandum with EGV Transport Limited.

The MoU was signed with the view of setting up a plant to produce electrical automobiles in Pakistan, however, it turns out that Hussain was neither authorised to sign it nor did he follow the formalities.

Additionally, the PTI leader had pledged that electric buses would soon go through the streets of important cities like Islamabad, Karachi, and Lahore, and that in the future, about 20% of public transportation vehicles would switch to electric power. Fast forward a couple of years and nothing similar has occurred.

A study requested by the current administration following the recent change of government in Pakistan indicated the proposal for such an MoU was beyond the mandate of the ministry as its main job is research and development.

Finance Min blames former govt of Imran Khan for Pakistan's economic crisis

Data from a recent report from Pakistan's Bureau of Statistics (PBS) shows that inflation is rising by the second in Pakistan. In the month of June, inflation in Pakistan increased to 21.32%, which is the highest in the last 13 years.

Cash-strapped Pakistan is facing growing economic challenges, with high inflation, sliding forex reserves, a widening current account deficit and a depreciating currency.

Pakistan Finance Minister Miftah Ismail on Thursday while addressing a press conference in Islamabad stated that the government was not in a position to bear more subsidies anymore, therefore necessitating the hikes. He further also criticised the Imran Khan-led former government's policies and said that they “deteriorated the country’s economy." Furthermore, he also asserted that the incumbent government is facing the brunt of the former PTI government's actions. 

(Witn inputs from ANI)

Image: AP