Previous govt left country in deficit: Asad Umar

ISLAMABAD (92 News) – Minister for Finance Asad Umar said on Wednesday that the previous government left Pakistan in deficit and destroyed the economy of the country. The finance minister presented the Finance Supplementary Second Amendment bill 2019 in the National Assembly. As the finance minister started his speech, members of the opposition started sloganeering against the government. Responding to the opposition leader, the minister strongly criticized the previous governments for poor economic policies. He asked what the previous government had left behind for the people of Pakistan. Asad Umar said that the gas sector was never in deficit, however, due to PML-N government’s policies, it was now in the deficit of Rs. 150bn. He further said that the previous government had left the country in the deficit of somewhere between Rs2500bn to Rs3000bn. Criticising the past rulers over worsening economic crisis, the finance minister said that “these people left the patient in the ICU,” adding that we cannot bring change until narrowing the difference of balance of the payments. “The exports were left at the lowest level; the economy cannot be put back on the track until settling the budget-deficit”, he said Commenting on the savings in the country, Umar said the PML-N left the savings at record lowest level of 10.4 in the country. “Foreign investment cannot be attracted until savings of the country are uplifted”, he said. Umar added that the deficit grew to Rs900 billion, asking who would fill this gap. “How will this gap be filled? Will it come from their Swiss accounts? No. That money is filled with money paid by the citizens.”

Asad Umar reacts to opposition ruckus

The opposition raised slogans as ‘Go Niazi GO’ and ‘Sewing Machines’ during the speech of the finance minister. Responding to opposition’s ruckus, Umar said he wished the opposition would have called out the then finance minister Ishaq Dar when he would read out ‘a pack of lies’ in name of finance bill. He also assured to the opposition, saying, “The slogans could not stop Prime Minister Imran Khan during 22 years and your voices would be diminished but Imran Khan will not go.” Asad Umar said that the parliament and the constitution had a responsibility to reduce inequality between the rich and the poor, which was not fulfilled. He said that the government would present a ‘medium-term economic framework’ next week, and hoped that the opposition would give positive suggestions to the government to improve.

PTI govt not need to ‘buy’ any elections

“Two years ago, an economic situation began to develop when all economic experts started to say that danger bells are ringing. But instead, those in power did not pay heed, they thought the people were ignorant, and instead they conspired to ‘buy’ an election.” Umar said that, by the time of the next general elections, the PTI government would not need to ‘buy’ any elections because of their performance in improving the economy. He claimed that by 2022, the country's growth rate will be at its highest and current account and fiscal deficits at their lowest in 15 years.