ISLAMABAD (A News) – According to Pakistan Tehreek-e-Insaf (PTI) leader Asad Umar, the State Bank of Pakistan’s foreign exchange reserves have dropped by more than $6 billion since the no-confidence vote.
Asad Umar, speaking at a news conference with PTI leaders in Islamabad, said that diminishing reserves are putting pressure on the currency, which has shed Rs15 versus the dollar.
According to Asad Umar, the country’s four key crops had a bumper crop last year, the industry grew by 10.6 percent, and exports soared by 26 percent.
He attributed the bumper crops to the PTI’s policies, noting that at a time when food prices are rising throughout the world, former Prime Minister Khan’s “farmer-friendly policies” resulted in record output of four key crops.
Umar also credited Khan with a 26% increase in the country’s exports last year, saying that the former premier concentrated on exports more than any other prime minister and made them a fundamental element of his economic policy.
According to Umar, power output climbed by 10% during the PTI government’s final year in office.
“However, since the [current] administration took control, the worst load shedding in the country has begun,” Umar explained.
Outlining the previous government’s accomplishments, Umar stated that the economy was growing until a “foreign-sponsored no-confidence vote” was introduced in Parliament.
He criticised the present administration for excessive inflation, which he claimed was the highest in 11 years.
He also reminded Finance Minister Miftah Ismail of his criticism of the previous government’s increase in petrol prices.
“Miftah [Ismail], you claimed who could pay Rs137 per litre fuel and that the PDM would not allow the [PTI] administration to raise even an one rupee on petrol.”
Remember this phrase when you raise the price of gasoline, said Umar.