Tariq Khattak
Islamabad: Dr. Muhammad Hanif Mughal, Chairman of Pakistan Tehreek-e-Shadbad, said on Thursday that political disagreements after elections are natural, but they shouldn’t grow to unmanageable levels as the country cannot afford further uncertainty.
Pakistan’s worldwide rating will rise if the opposition becomes responsible, which will help the new government steer the country out of some of the most pressing problems, he said.
The new government should prioritise the success of the IMF review after which a new accord with the lender is necessary to save the country, he added.
In a statement issued here today, he said that it is astonishing that as the rupee weakens, the masses get poorer and the privileged get richer.
Dr. Hanif Mughal has said that political differences should not escalate to tension because it will further weaken the country’s economy and increase the suffering of the people.
After the election, the political instability in the country is slowly decreasing, which is good, and if the politicians belonging to the opposition show responsibility, the global ranking of Pakistan can improve, thereby getting more loans to save the country.
He noted that as the political tension in the country is reduced, the value of Pakistani bonds in the international market has also started to improve.
He said that the new government should keep the success of the last review of the IMF and start a new programme with the IMF at the top of its priorities so that the journey of economic stability continues.
He demanded that after the IMF agreement, relief should be given to the people who have been suffering from instability and inflation for many years.
With the agreement with the IMF, while the concerns about Pakistan will die down and local and international investors will see Pakistan favourably, the ongoing inflation in the country can also be reduced.
Dr. Hanif Mughal said that we need to improve the economy like the neighbouring countries. Until a few decades ago, the condition of Pakistan was better than all the neighbouring countries, but now it is the worst. In 1985, the dollar in Pakistan was four rupees more expensive than in India. Now the dollar in India is 80 rupees, and in Pakistan, it is 280 rupees. The difference has increased from 4 rupees to 200 rupees.
In forty years, the difference between the Pakistani and Indian currencies against the dollar has increased from four rupees to two hundred rupees which is not acceptable.
As the Pakistani rupee is getting weaker and people are getting poorer, the elites are getting richer, which is amazing. However, now this trend cannot continue because the country’s integrity is at stake.
