Independent economists have said that owing to government’s inappropriate economic policies to cope with depressive economic situation of the country Moody’s downgraded Pakistan’s sovereign rating to its lowest level ever. Talking to Online renowned economist Dr Salman Shah said that economic manager’s unsuitable policies had brought the country eight years back rather than bringing some improvement in the relentlessly aggravating economic situation. “Government’s inept polices is the main hurdle in the way of promoting investment in the country which should be made investment friendly,” said Dr.Salaman Shah. Well-known economist Dr Ishfaque Hassan khan said that political leadership and economic managers should be blamed for downgraded credit rating of Pakistan as economy of the country was not on their radar screen. “Business is thriving here and political leadership and economic managers have no anxiety with growing deteriorating economic situation of the country,” he added. Pakistan Economy Watch (PEW) President Dr Murtaza Mughal said that country’s current account balance and foreign exchange reserves had exacerbated which had been responsible for Pakistan’s downgraded credit rating. He told economic trouble shooters of country had taken Pakistan on the brink of destruction economically, as they had not been endeavouring to formulate the polices which would bring economic prosperity. In a note issued on Friday by Moody’s downgraded Pakistan’s sovereign credit rating to its lowest level ever. Pakistan’s current account in May showed a deficit of $3.8 billion. Remittances from abroad that provided support to the current account until recently are tapering off, Moody’s said.
How inappropriate!
