Pakistan facing economic turmoil, inflation reaches 25pc, says Shaukat

LAHORE     -   Senator Shaukat Tarin, former Federal Minister of Finance and head of Tehreeke-Insaf’s economic team, says that we had left the inflation rate at 12 percent in March, today the inflation rate in the country has reached 25 percent.

Shaukat Tarin expressed these views while holding a press conference at the party office Jail Road along with Jamshed Iqbal Cheema and said that 79 percent of investors think that Pakistan is going in the wrong direction, money is not coming into the country. In the last six months, this government took a loan of 6.5 trillion, LCs of 4 to 5 billion dollars have been stopped., he said. Our government was removed by justifying inflation, while there was no load shedding during our time. Last 2 years of PTI showed record performance, highest tax collection during PTI era and we removed Pakistan from FATF grey list, he added. Senator Shaukat Tarin also said, there was no electricity loadshedding during the PTI era, we had left the inflation rate at 12pc, now it has increased to 25pc in imported government  “Due hard economic conditions people are leaving this country due to current economic turmoil. The rulers are paying off the debts by borrowing money”, he said. He added that State Bank’s reserves have reached 4.3 billion, Saudi Arabia has also placed conditions related to lending. The deal with the IMF is not being done because the revenue is too low. The PDM will run away in the next few weeks but people will not spare them for what they have done to this country, he said. Shaukat Tarin further said that PTI has a strategy to manage the economy, PDM and its followers have created great difficulties for the people due to the economic situation,if the government announcesthe general elections then it wouldbe great for the country. We know that when we wil come to government, we will have to deal with these problems, we have a strategy to manage the economy, he said. Jamshaid Iqbal Cheema said that there is 75 billion dollar agriculture potential in the country and 45 billion dollar livestock. “We produce ten billion dollars worth of wheat, four billion dollars worth of corn every year. There was a growth in agriculture of four billion dollars during PTI government.  This time around the income from agriculture and crops will decrease by 30pc. The federal government tried to destroy the poultry industry. As of now the use of urea and tractor is not so much. The livestock industry producesupto 20 billion dollars worth of milk but animal feed has become expensive by 80pc. The government is impoverishing the farmer and reducing his production.

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