WhatsApp Logo Subscribe
For News Alert

News

Ishaq Dar assails critics of his strong rupee policy

May 13, 2020 11:39 AM


Twitter Share Facebook Share WhatsApp Share

Former finance minister Ishaq Dar criticised those who had been very critical of keeping the rupee stable during the PML-N government but are currently admitting that devaluation have caused economic problems.

In a tweet, Dar said the PML-N government had kept the rupee stable while also maintaining the lowest discount rate and inflation, but some people were unhappy with that. Back then, they were criticising the economic development all the time, he added.

https://twitter.com/MIshaqDar50/status/1260210440497397761

But they have now realised how much losses the country is facing because of reversing those things, he remarked. Such dramas caused a huge damage to the economy, Dar added.

He was commenting on two statistical studies conducted by Dr Ashfaq Hasan Khan of NUST (National University of Sciences and Technology). The first of these showed that high discount rate contributed to inflationary pressure.

Meanwhile, the second study revealed that the devaluation of rupee against dollar had not contributed to export growth. In fact, the poor management added a cost of $31 billion to the economy.

Last week, Dar, in a tweet, had noted that a strong currency was a prerequisite for an emerging economy and the rupee remained stable during the PML-N government.

https://twitter.com/MIshaqDar50/status/1258262154345676800

The senior PML-N leader cited the yearly average which, he said, was 103 in 2014 and 109 in 2018. But the PTI government had ruined the economy, as the yearly average for 2019 and 2020 stood at 137 and 157 respectively.

https://www.youtube.com/watch?v=pOavNaBX4NU


Most Read

  1. Water tariff doubled for Lahore consumers Water tariff doubled for Lahore consumers
  2. Here are the top 21 finalists for Miss Universe Pakistan 2024 Here are the top 21 finalists for Miss Universe Pakistan 2024
  3. US and Sindh govt launch $9 million initiative  to combat tuberculosis in Pakistan  US and Sindh govt launch $9 million initiative  to combat tuberculosis in Pakistan 
  4. Jacqueline Fernandez's sun-kissed charm shines bright on Cannes Day 2 Jacqueline Fernandez's sun-kissed charm shines bright on Cannes Day 2
  5. ‘Bado Badi’ girl Wajdan Rao blocks Chahat Fateh Ali Khan for ‘cheap’ action ‘Bado Badi’ girl Wajdan Rao blocks Chahat Fateh Ali Khan for ‘cheap’ action
  6. Amitabh Bachchan’s mimicry expert dies Amitabh Bachchan’s mimicry expert dies

Opinion

  1. Hats off to Fatah-II
    Hats off to Fatah-II

    By Naveed Aman Khan

  2. New twist in PTI founder’s strategy towards Military Establishment
    New twist in PTI founder’s strategy towards Military Establishment

    By Salim Bokhari

  3. Revoke the heat stroke
    Revoke the heat stroke

    By Dr Asif Channer

  4. Defiance, sacrifice & national resilience
    Defiance, sacrifice & national resilience

    By Naveed Aman Khan

  5. Maryam Nawaz Sharif's Police Uniform: Breaking Gender Stereotypes, Not Minds
    Maryam Nawaz Sharif's Police Uniform: Breaking Gender Stereotypes, Not Minds

    By Alysha Khan

  6. Pak-Saudi-Iran economic proximity
    Pak-Saudi-Iran economic proximity

    By News Desk