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No Snap Polls, P.M. Sharif Stresses

In joint press conference, finance minister claims Saudi Arabia will soon provide support to Pakistan to help stabilize the economy

by Staff Report

Photo courtesy PID

Prime Minister Shehbaz Sharif on Monday slammed Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan and his “minions” over their role in London-based Daily Mail accusing him of corruption and ruled out the possibility of any negotiations with his political rival.

The British publication had in 2019 published a report alleging that Sharif had embezzled funds intended for earthquake victims. Subsequently, Sharif took the paper to court, demanding it prove the allegations in its story. Last week, the Daily Mail issued an apology to Sharif for the story and deleted it from all its online platforms. In his press interaction, the prime minister maintained this had not only damaged him, but also the nation, as the country stood accused of misusing foreign aid.

The prime minister berated Khan for selling a one-of-a-kind watch gifted to him by Saudi Crown Prince Muhammad bin Salman when he was the prime minister. “This was a cheap move that Imran made by selling a watch that contained the image of Holy Kaaba,” he said. “I do not use the word ‘fraud’, but this is what Imran did. The shop owner—whose receipts PTI showed relating to the watch’s sale—has also clarified that it is not his handwriting on the receipt,” he said, adding that “introspection” was needed to understand how such a person had ruled Pakistan while damaging both its foreign policy and economy.

Flanked by several members of his cabinet, Sharif described Khan as a “self-centered, liar, cheater, anti-benefactor, and anti-Army” person who could not be allowed to determine when the country would proceed toward elections. Maintaining that the incumbent government would complete its constitutional term, he said the people could decide in polls whether Khan or he had been right.

Explaining that he had directed Finance Minister Ishaq Dar to meet President Arif Alvi for dialogue, he said any differences could be set aside for the sake of the country. However, he alleged, Khan had no issues with harming the nation for his own benefit. “We have not put our political assets at stake just for snap polls. Stabilizing the economy is our top priority,” he said, recalling that the PTI would “ridicule” him when he proposed a Charter of Economy during his time as opposition leader.

To a question on oil prices, Sharif said the government discussed the matter fortnightly and aimed at providing relief to the public. “We would surely pass on the relief if some cushion is found,” he added. To another question, the prime minister said the PTI chief had showed a lack of gratitude to his “benefactor”—ex-Army chief Qamar Javed Bajwa. He maintained that new Army chief Gen. Asim Munir was a “professional soldier with a shining career” and hoped he would strengthen the institution and serve the country.

To another question, Sharif said his elder brother, Nawaz Sharif, would “soon” return to Pakistan.

Economic crisis

Addressing the gathering, the finance minister assured the general public that the country would never default economically. Accusing the PTI of intentionally selling rhetoric around default to defame the government and the country, he stressed: “The fake news is being spread about the bankruptcy of the country by Imran Niazi, who caused the country’s economy to sink by laying mines.”

Claiming the PTI government had failed to honor its commitments to international financial institutions, he said Pakistan would soon get additional financial support from “brotherly country” Saudi Arabia to help stabilize the economy. On the disparity between the open market and interbank rates of dollar exchange, he said this was due to smuggling. Alleging that U.S. dollars and wheat were being smuggled out of Pakistan, he said a crackdown had been initiated last week and its results would soon be visible.

Attempting to rubbish the PTI’s narrative of its economic successes, he said the PTI had inherited a Pakistan from the PMLN with inflation of 4.6-4.8 percent; food inflation at 2 percent; GDP growth of 6.1 percent; and a policy rate of 6.5 percent. “These were among the core things that he received. Rs. 25,000 billion was the overall loan that they were handed over from the previous government—but they claimed that it stood at Rs. 30,000 billion,” he said, lamenting that the PTI had damaged investment in the country by telling friendly countries it was in a “debt trap” and all previous governments were “corrupt.”

Who would invest in a “corrupt” country, he questioned, adding the ousted government had triggered rampant inflation, massively devalued the rupee against the dollar, and increased Pakistan’s debt to a whopping Rs. 44,500 billion. “Their government was confused. They did not have a revenue plan … and they pushed the country to the brink of default,” he said, claiming that PTI had preferred playing politics over serving the state.

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