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Updated October 10th, 2021 at 09:28 IST

Pakistan Min Chaudhry Fawad blames current economic crisis on past govts' misrule

Pakistan Federal Min Chaudhary Fawad Hussein said that former rulers Nawaz Sharif, Zardari have ruined the "national economy during their 10 years of misrule."

Reported by: Dipaneeta Das
Pakistan
IMAGE: AP | Image:self
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In a major statement, Pakistan Federal Minister Chaudhary Fawad Hussein claimed the nation's former rulers 'ruined' the national economy during their 10 years of misrule. Speaking about the current economic crises in Pakistan resulting in price hikes of food and petrol, Chaudhury asserted that the situation could have been averted had the previous government paid the debt of 12 billion dollars. The amount could be used to provide subsidies to control oil and electricity prices, Chaudhary Fawad told The News International.

The statement by Chaudhary comes while the Imran Khan-led government in Pakistan is striving to pull the country out of the economic mire. Similar assertions were made by Khyber Pakhtunkhwa CM Mahmood Khan while he was addressing a rally in Madhyan on Friday. According to the Dawn, Khan claimed that the current economic slug was due to the "incompetence" of previous rulers. Khan also praised PM Imran Khan and touted that Pakistan-Tehreek-i-Insaf (PTI) was the "only" party that could deal with the situation.

Current economic crisis "gift of 10-yr rule of Sharif and Zardari"

Addressing questions about current inflation, the Federal Minister further claimed that the current economic crisis was a "gift of the 10-year rule of the Nawaz Sharif and Asif Ali Zardari government." He added that had the leaders tackled the economy, the people of Pakistan would not have been plunged into skyrocketing prices and a harrowing employment crisis. Notably, prices of edible items and petroleum products have almost doubled under the governance of Imran Khan-led Tehreek-e-Insaf Pakistan.

According to World Bank estimates, in 2020, the poverty rate in Pakistan rise to 5.4% from 4.4% the previous fiscal year. In the 2021-2022 period, the poverty ratio is further expected to expand up to 39.2%. At least 2 million Pakistanis sank below the poverty line after the rise, the Dawn reported. Additionally, since the first year of the PTI government, employment opportunities for males and females dipped from 5.9% to 5.1% and from 10% to 8.3%, respectively.

With inputs from ANI

Image: AP

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Published October 10th, 2021 at 09:28 IST

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