Pakistan News

Country sunk into worst debt trap by Sharifs, Dar: Imran Khan

Pakistan Tehreek-e-Insaf (PTI) chief Imran Khan on Wednesday took a jibe at ruling Pakistan Muslim League Nawaz’s (PMLN) and former finance minister Ishaq Dar in the wake of Bloomberg report which expressed concerns over Pakistan’s depleting foreign exchange reserves.

Khan took to popular microblogging website Twitter and said:

“This exposes all the lies and propaganda about the economy spewed by Dar and the Sharifs through billions worth of ads. Reveals how they did the job of economic hit men on Pak by making the country sink into the worst ever debt trap”.

Pakistan is depleting its dollar reserves at the fastest pace in Asia and may soon have a buffer that’s smaller than Cambodia, an economy that’s less than a 10th of its size, reported Bloomberg.

Reserves have dropped by about a fifth in the past year to reach $13.5 billion in February, while in Cambodia they’ve increased a third to $11.2 billion in January, according to data from the International Monetary Fund. Pakistan’s reserves are expected to drop as much as $2.2 billion by June, according to Insight Securities Pvt.

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