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Rupee, economic indicators are proof of govt’s sincerity: Malik

Rupee, economic indicators are proof of govt’s sincerity: Malik

LAHORE: Depreciation in dollar prices and growth in economic indicators are an ample proof that the government is making all out efforts to put economy back on track.

These views were expressed by the Member of National Assembly Pervez Malik while talking to a delegation of businessmen at his office.

He said that Prime Minister Nawaz Sharif and Finance Minister Ishaq Dar were sparing no efforts to bring progress and prosperity back to this resourceful country. The days are not far when Pakistan would be at par with developed countries.

Pervez Malik said that well consulted economic policies of present government were reaping the fruit and economy was on its path to recovery. He said that a strong rupee would not only bring inflation rate down but would also bring much needed expansion in the industrial sector to create thousands of new jobs. He said that elimination of Circular Debt, winning of GSP Plus status and now drastic cut in dollar prices are the economic achievements that are being appreciated by the whole nation.

Malik said that the government understands well that the people wanted to see the trickle down impact of these measures that would definitely reach them but it always takes some time.

He said that a continuous decline in rupee value in yester years had not only raised the cost of imports but also increased amount of outstanding loans and resultantly the pressure on foreign reserves multiplied.

He said that the credit goes to Finance Minister Ishaq Dar who fulfilled his commitment and did not let the rupee fall further. He said that Finance Minister Ishaq Dar deserves credit for giving new confidence to the whole nation.