AGL 38.00 Increased By ▲ 0.01 (0.03%)
AIRLINK 210.38 Decreased By ▼ -5.15 (-2.39%)
BOP 9.48 Decreased By ▼ -0.32 (-3.27%)
CNERGY 6.48 Decreased By ▼ -0.31 (-4.57%)
DCL 8.96 Decreased By ▼ -0.21 (-2.29%)
DFML 38.37 Decreased By ▼ -0.59 (-1.51%)
DGKC 96.92 Decreased By ▼ -3.33 (-3.32%)
FCCL 36.40 Decreased By ▼ -0.30 (-0.82%)
FFBL 88.94 No Change ▼ 0.00 (0%)
FFL 14.95 Increased By ▲ 0.46 (3.17%)
HUBC 130.69 Decreased By ▼ -3.44 (-2.56%)
HUMNL 13.29 Decreased By ▼ -0.34 (-2.49%)
KEL 5.50 Decreased By ▼ -0.19 (-3.34%)
KOSM 6.93 Decreased By ▼ -0.39 (-5.33%)
MLCF 44.78 Decreased By ▼ -1.09 (-2.38%)
NBP 59.07 Decreased By ▼ -2.21 (-3.61%)
OGDC 230.13 Decreased By ▼ -2.46 (-1.06%)
PAEL 39.29 Decreased By ▼ -1.44 (-3.54%)
PIBTL 8.31 Decreased By ▼ -0.27 (-3.15%)
PPL 200.35 Decreased By ▼ -2.99 (-1.47%)
PRL 38.88 Decreased By ▼ -1.93 (-4.73%)
PTC 26.88 Decreased By ▼ -1.43 (-5.05%)
SEARL 103.63 Decreased By ▼ -4.88 (-4.5%)
TELE 8.45 Decreased By ▼ -0.29 (-3.32%)
TOMCL 35.25 Decreased By ▼ -0.58 (-1.62%)
TPLP 13.52 Decreased By ▼ -0.32 (-2.31%)
TREET 25.01 Increased By ▲ 0.63 (2.58%)
TRG 64.12 Increased By ▲ 2.97 (4.86%)
UNITY 34.52 Decreased By ▼ -0.32 (-0.92%)
WTL 1.78 Increased By ▲ 0.06 (3.49%)
BR100 12,096 Decreased By -150 (-1.22%)
BR30 37,715 Decreased By -670.4 (-1.75%)
KSE100 112,415 Decreased By -1509.6 (-1.33%)
KSE30 35,508 Decreased By -535.7 (-1.49%)

Pakistan Muslim League (Nawaz) leaders Saturday lambasted the incumbent government, saying it has failed to deliver in its first five months.
During a press conference by Pakistan Muslim League-Nawaz (PML-N) leaders including former Prime Minister Shahid Khaqan Abbasi, PML-N Spokesperson Marriyum Aurangzeb and former Finance Minister Miftah Ismail, Abbasi said that the government is not taking interest in solving the problems of masses. He said that the government has failed to overcome issues relating to gas and electricity. He also condemned the economic policies of the Pakistan Tehreek-e-Insaf (PTI) government.
(PML-N) has also expressed its serious concerns over the ongoing energy crisis in the country and called for constitution of a Joint Investigation Team (JIT) to probe into the "closure of world's cheapest power plants" in the country.
The former prime minister claimed that when the PTI assumed power, there was no shortage of electricity and gas in the country. He said that the government was generating some 4,200 megawatt of electricity through furnace oil, which is considered to be the most expensive way of producing electricity.
"The world's cheapest power plants are closed and electricity is being produced through most expensive fuel causing a daily loss of Rs one billion to the national exchequer," the former prime minister said, demanding that an inquiry should be ordered to probe as to why these power plants had been closed.
"Since a new culture of forming JITs has been developed in the country, I demand that a JIT be formed to find out those responsible for the present energy crisis in the country," Abbasi said.
The former premier said when the PML-N had assumed the power in 2013, the country was facing worst electricity and gas load-shedding. However, he said, it was the PML-N government which brought the country out of the energy crisis under the leadership of Nawaz Sharif. He, however, regretted that due to "incapability" of the present rulers, it was the second consecutive month that people had been suffering from electricity and gas shortages.
Speaking on the occasion, former finance minister Miftah Ismail alleged that the government had already borrowed Rs1,400 billion from the State Bank of Pakistan (SBP) whereas the PML-N government had borrowed Rs288bn from the SBP during its whole five-year term.
Ismail explained that borrowing from the SBP meant printing of more currency and increase in inflation. He said the PTI had promised to provide 10 million jobs in five years for which a growth rate of nine to 10 percent was required. He said the PML-N government had brought down the inflation rate to a single digit from 14 percent it had inherited in 2013. Inflation rate, he regretted, was again showing an upward trend.
Responding to a question, Abbasi said that due to the 'visionless' economic policy of the rulers, the government now intended to present a second 'mini-budget' in six months time.
He said the government had been forced to present another mini-budget as it had failed to meet the revenue target and increase in its own expenses due to rising inflation. He said the government was planning to put more burden on the masses to pay off Rs400bn interest on loans.
To a query, Abbasi said that so far the government had not contacted the opposition on the issue of the extension of the military courts. He, however, said that the government would have to explain it before the parliament as to why there was a need for giving another extension to military courts.
Abbasi stressed that managing director of Sui Southern Gas Company Limited has no connection with gas crisis. He said a solution to gas crisis was told six months back and the matter is not that much difficult to resolve, said the former prime minister.
"The matter of Exit Control List (ECL) has been toyed. The government places names of those on the ECL whom it wants to threaten; however, the names of their allies are removed from the list," Abbasi alleged.
"In our tenure, the cabinet used to take decisions in five minutes. The law of military courts was formed during our government. The government should explain the needs for extension in its tenure. The decision will be taken by the Parliament," he added.
He said that the country's economy is facing serious threats as the present government has broken the record of receiving loans. "The government does not possess any ability. The ministers do not have understanding and can only level accusations," he criticised.
"The opposition parties are united in the Parliament and their agenda is to reveal the inability of the government. We do not want to abuse anyone but want to work for the betterment of the country," he remarked.
Responding to a question over the appointment of Justice Asif Saeed Khosa as new Chief Justice, Abbasi said that having expectation from judges is not accurate as their work is to provide justice to everyone.
Speaking over the National Reconciliation Ordinance (NRO) issue, he said, "The authority to provide an NRO resides with the dictator. The Prime Minister does not have any right to give an NRO as per Constitution. Nawaz Sharif attended 185 hearings. Such a person cannot ask for NRO," he said.
Miftah Ismail flayed the government, saying that 2-8 percent loss was recorded during the first six months whereas the amount of loans has also magnified. "The growth of economy has decreased and is heading towards negative," he said. "The performance of private sector has also fallen. The exports did not witness an escalation in first five months," Miftah noted.
He said the second 'mini-budget' is coming; however, nothing significant has been done in relation to the increasing dollar price, he said. "No change has occurred in the status of the PM House as the UAE Crown Prince was received there," he added.

Copyright Business Recorder, 2019

Comments

Comments are closed.