Will not dictated by anyone for holding general elections: Ishaq Dar
ISLAMABAD, Oct 23 (SABAH): Federal Minister for Finance and Revenue Senator Mohammad Ishaq Dar has said that they will not take decision of holding elections on dictation of anyone and the issue spanning over four years cannot be dealt with only in six months. The minister said he has returned back to Pakistan to tackle with inflation; however, bringing it in single digit will be tough job.
While interviewing with a private TV channel, Ishaq Dar said that dollar devaluation occurred from Rs 242 to Rs 220 and appreciated those key players who started good work as soon as he boarded on plane. He said the real price of dollar as compared to rupee was below than Rs 200 which is known as Real Effective Exchange Rate (REEL) and added that in Pakistan, the price of rupee was market-based which was done by the government of Pakistan Muslim League-Nawaz (PML- N) in 1997.
He maintained that India spent $100 billion for strengthening its currency whereas journey of strength of rupee in comparison with dollar is yet to be accomplished and said that dollar should be brought below than Rs 200 which likely to happen. About the appointment of army chief, he said there is process in connection with this which will be completed on its time.
In Pakistan, he said academic theories don’t work and ground realties play much role. He said that Bangladesh recently worked on these lines while keeping in view 1998-1999 and 2013-2014 model by following Pakistan and added that a long journey had to be travelled for giving strength to rupee as compared to dollar. He said that dollar price should be less than that of Rs 200 and added anyone may confirm that at present dollar price was not less than Rs 200 whereas all other all speculations.
If someone sits along with him, he may prove that real price of dollar is below than Rs 200 whereas all others were speculations; he said and added that talking about the matter of demand and supply was just a lip service. If dollar price is increased even up to 250; the people will give them almost $ 2 billion or $ 4 billion. Their government had left external public debt at Rs 70 billion whereas Imran Khan’s government left it at more than Rs 100 billion, he said and added their government had left total debt and liabilities of country at Rs 30 thousand billion while Imran Khan’s government had left it at Rs 54 thousand billion while breaking all the records.
Ishaq Dar was of view that the government of PML-N delivered in the past which is why he was not disturbed and added the issue spanning over four years cannot be sorted out in six months. The minister said he returned back to the country for the sake of decreasing inflation whereas it would be difficult to bring it in single digit and added they have to give positive direction to economic indicators.
“It is prerogative of the collation government to take decision about holding of general elections ahead of stipulated time. We will not accept dictation while deciding this matter. We will deliver and provide the people relief again as they damaged their politics to protect the State. For this, we need time. It is likely the coming general elections will be held on time in October 2023,” he concluded.
Meanwhile Federal Minister for Finance and Revenue Senator Mohammad Ishaq Dar chaired meeting of Prime Minister’s Task Force on Information Technology (IT) and Telecom at Finance Division on Sunday. Federal Minister for IT& Telecom Syed Amin Ul Haque, SAPM on Youth affairs Ms. Shaza Fatima Khawaja, SAPM on Finance Tariq Bajwa, Governor SBP, Secretary Finance, Secretary IT&T, Chairman FBR, Chairman PTA and other senior officers attended the meeting.
The meeting discussed the issues related to IT sector’s declining export and measures to bring it back to a growth trajectory.
Finance Minister Senator Mohammad Ishaq Dar emphasizing the importance of IT sector said that government accords priority attention to IT sector to tap its true potential. He said that IT sector has immense potential for growth and could play significant role in strengthening Pakistan’s economy.
The chair considering the proposals of Ministry of IT&T, directed to the concerned authorities to take steps for facilitation of IT sector and to remove bottlenecks in order to encourage its exports.