The Pakistan Economy Watch (PEW) on Tuesday said US has been deliberately hurting Pakistan’s weak economy to realise its designs in the region. An economically sound and stable Pakistan is not in the interest of Washington that need a weak country which can dance on their tunes, said Dr Murtaza Mughal, president PEW.
He said State Bank of Pakistan is left with almost three billion dollars of forex reserves enough to meet import bill for a month after which situation can deteriorate rapidly. On the other hand, he said the government should introduce policies which can boost reserves, bar flight of capital, broaden tax net or lure investors.
Dr Murtaza Mughal said that incumbent rulers have been following policy of their predecessors by claiming to broaden tax net and cut expenditures but relying on borrowings which has triggered inflation and humbled the rupee.
This shortcut to raise funds has crowded out private sector of the credit market and annoyed business community while the opposition as well as the IMF has preferred to remain silent over the issue, he noted.
In such a grim situation, said the doctor, the US has been unnecessarily delaying disbursement of $ 1.5 billion due as Coalition Support Fund.
Americans have developed a habit to stop payment of dues but an obstruction at this critical juncture simply means that the US wants Pakistan to default on its obligations.
Similarly, delay in grant of GSP plus to Pakistan is also creating problems for exporters, he said.
Edited by: M Ahmad Tauqir
That is the usual tactic to penalise Pakistan by a socalled friend of Pakistan. We should expect more from american friends. But they will never commit to stop drone attacks.
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