Speakers at a Jamaat-i-Islami (JI) sponsored seminar on "NRO and Democracy" Thursday termed the "deliberate" devaluation of rupee, standby loan of International Monetary Fund (IMF), the Kerry-Lugar Bill (KLB), Friends of Democratic Pakistan (FoDP), military operation in Wazirisitan, Pak-India Transit Trade agreement and the appointment of "monetary viceroys" such as former premier Shaukat Aziz a deep-rooted conspiracy against the integrity of Pakistan.
Dr Shahid Hassan Siddiqui, an economist and analyst, told the seminar, held at JI's Karachi headquarter, Idara-e-Noor-e-Haq that the crises-stricken country would need no KLB or IMF loan if the country's civil and military bureaucracy transferred their money back to Pakistan.
He alleged that the present US-backed government, which, according to him, was doing contrary to its election manifesto, had itself paved the way for a standby IMF loan through a deliberate devaluation of rupee that reflected country's shrinking foreign exchange reserves.
The outspoken economist was of the view that Washington would not go beyond one or two tranches of its civilian aid under Kerry-Lugar legislation and would soon suspend it on the pretext of Islamabad's failure to curb extremism and terrorism. He also criticised finance minister Shaukat Tarin and State Bank governor Syed Salim Raza.
JI's Sindh Chapter Ameer Asadullah Bhutto presided over the moot in the absence of ailing Professor Ghafoor Ahmed, JI's Naib Ameer. JI's Karachi Chapter Ameer Muhammad Hussain Mehnti, political analyst Shahnawaz Farooqui and Mir Nawaz Khan Marwat also addressed the seminar.