Poor policies of federal govt behind weakened economy: Murtaza Wahab


KARACHI: Advisor to Sindh Chief Minister (CM) on Information Barrister Murtaza Wahab on Thursday has said that investors had taken out $2.75 billion from the stock market while a 77 per cent decrease had been reported in direct foreign investment during the last five months due to poor policies of the federal government.

He was talking to media persons outside the Sindh Assembly on Thursday.

The Sindh CM’s advisor said that the statistics were neither presented by any political party nor any political opponent, however, the State Bank of Pakistan (SBP) had confirmed the situation.

He said that members of the Pakistan Tehreek-e-Insaf (PTI) were busy making rhetoric for political scoring but at the end of the day, it was our economy that was getting affected.

“Our country is passing through a period where we need foreign reserves to meet our balance of payments and improve our trade deficit. We need a competent government at the federal level, which can encourage foreign investors so that they bring investments to Pakistan,” said Wahab while adding that opposition parties were of the view that the federal government had not presented its economic and monetary policies with clarity, a stance that the State Bank of Pakistan had endorsed.

He said that the poor policies had left investors of stock exchange worried, as unemployment had increased manifold and poverty ratio was on the rise.

He advised PTI to concentrate on the country’s real issues and stop hatching conspiracies which were bound to fail as people of Sindh had rejected PTI.

He said that the PTI government had made tall claims of independence of institutions, but it is using institutions for achieving political targets.

He demanded of the federal government to end political manoeuvring and interference in national institutions so that they could perform their duties with independence.

To a question regarding the National Accountability Bureau (NAB) inquiry into the Sindh Information Department, he replied that all the required documents were being provided to the anti-corruption watchdog, adding that the Sindh government has not done anything wrong.