Foreign exchange reserves decline to a dangerous level: Umer

Pakistan Tehreek-e-Insaf (PTI) leader Asad Umer has said that foreign exchange reserves have declined to a dangerous level and the caretaker government will have to formulate a comprehensive economic policy for the next government.
While responding to the press conference of caretaker Finance Minister Dr Shamshad Akhtar and Minister for Water and Energy Barrister Syed Ali Zafar, the PTI leader in a media briefing on Tuesday said that he requests the caretaker government to speak truth with the nation about the economic situation and electricity load-shedding in the country. He said bold steps will be needed to sustain current account deficit.
He said that there is a need to take bold steps for economic progress in the country. He said that the caretaker government should not wait for the next government and prepare a comprehensive policy. He said it is right that the caretaker government has no mandate to negotiate with the International Monetary Fund (IMF).
The PTI leader said that there is a total of 4500MW shortfall of electricity in the country. He said that there was the same shortfall, i.e, 4500MW in June 2013. He said, "The caretaker government should tell the nation where we stand." There is no difference in shortfall in power despite launching and inaugurating power projects by the former Pakistan Muslim League-Nawaz (PML-N) government. He said that the previous PML-N government could not overcome the load-shedding despite tall claims.
He said that rupee has been devalued against the US dollar and the difference has reached Rs 16 in six months, which is a serious situation due to payment of loans. He said that loan burden of Rs 40,000 more has been added on a citizen due to decrease in rupee value. He said that the people will have to suffer due to wrong policies of the governments. He said that current account deficit has also increased.
He said that it seems that the caretaker government is being pressurized by PML-N. He said that former Prime Minister Shahid Khaqan Abbasi is going to contest election from Islamabad. He said that the people of Islamabad would ask two questions from Abbasi, one about load-shedding and second regarding shortage of water.