ISLAMABAD: Privatization Minister Daniyal Aziz on Tuesday said that the international rating agency Standard and Poor’s latest report affirms that Pakistan saw improvements in its security situation, economic stability and energy shortages under Pakistan Muslim League-Nawaz’s (PML-N) government.
Addressing a press conference, the minister said that the government consolidated its economic gains, a fact verified by international financial institutions like Standard and Poor’s, which had declared Pakistan’s economic outlook as stable.
The minister said that when PML-N formed the government in 2013, the country’s economic situation had been poor and there were reports that the country would default amid severe energy shortage and price hikes. He said that PML-N pursued a coordinated economic programme and successfully achieved fiscal stability.
He said that the rating agency’s report shows an easing in the burden of interest payment on loans. Furthermore, it revealed an increase in Pakistan’s imports due to investment in power and infrastructure projects. The minister commented that the government had achieved majorly by adding 10,000 megawatts to the national grid in the past four years while the previous 70 years had seen an addition of only 15,000 megawatts.
The minister said that in another recent report, the World Bank declared Pakistan among the top five countries that received the highest private investment. The other countries were Brazil, Indonesia, Jordan and China. According to the market research group Euromonitor International, Pakistan was currently the world’s fastest growing retail market, coming ahead of countries like South Korea, India, United Arab Emirates, Saudi Arabia and Vietnam, he added. He further pointed out that the country’s current inflation rate was the lowest in many decades.
Daniyal also criticised Pakistan Tehreek-i-Insaf (PTI) Chairman Imran Khan for trying to create chaos in the country for the last four years. He said that Imran had provoked people to burn electricity bills and stop payments to power companies. Khan, moreover, asked the people to use the hawala and hundi systems for money transfer, incited them into civil disobedience and attacked the Parliament and Prime Minister House over allegations of rigging in elections, which were subsequently rejected by the judicial commission, he said.
Continuing his criticism of Imran Khan, the minister said that the PTI chief’s negative tactics had caused the start of China Pakistan Economic Corridor (CPEC) to be delayed by a year. This not only affected the economy badly but also discouraged foreign investors, he added. He also criticised the inclusion of Ishaq Dar’s name in the Panama Papers case. “Haste was shown in the disqualification of Nawaz Sharif while the decision against Imran Khan has been delayed,” he complained, adding that Imran was a proclaimed offender in a case registered against him under sections of anti-terrorism law.
The minister said that preparations were being made for the next elections and constituencies would be delimited through an act of Parliament.
