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Will not allow manipulation of exchange rate: Ishak Dar – Business

ISLAMABAD: Recently sworn in Finance Minister Ishaq Dar on Wednesday said strengthening of the value of Rs will be his top priority, followed by lowering inflation and interest rates. in order of priority to revive economy.

Speaking to reporters outside Ministry office where he came after taking the oath of at the office for the fourth time minister for finance and income said no one would be allowed to play with exchange rate.

“It is not right place where the rupee is now,” he said, adding that he knew some speculators were involved. in this is game what they should stop immediately. He said he was happy that the speculators already made fixes in two days and improvement in the value of the rupee was reduced in debt worth billions of rupees. “speculators should set them direction Correctly. This is my top priority to strengthen the value of the rupee. Then we must reduce inflation and contraction down interest rates because we have to revive economy”.

He said that central banks throughout world had role interfere in in market and there were standards for that. In response to a question, he said that big lie that PML-N government burned dollars in in market control the exchange rate. There were no dollars how could one throw dollars,” he said.

Reveals a plan to strengthen the rupee, brings down inflation and interest rates; blames Imran for economic crisis

Mr. Dar said chaos played with Meaning of currency of pakistan over in last about four years of PTI government caused inflation and because of high inflation, interest rates have been raised. His predecessor Miftah Ismail, according to him, made a lot of of an effort on the foundation of his experience but four years of devastation was of such proportions that economic conditions could not be corrected in such a short time. “He did everything he could and provided the country move from default,” he said, adding that build on these grounds with joint efforts.

“Pakistan faced with worst economic conditions currently due to four years of mismanagement during government of Imran Khan” who believed in falling bombs on country, if he were not in powerhe remarked, adding that what Mr. Khan had done to the country could not have been done even by Pakistan. enemies.

Finance minister said PML-N government under the leadership of Nawaz Sharif, the country was pulled out out of crisis after the 1998 nuclear explosions and again in 2013 when Pakistan was declared a “macroeconomically unstable country” and named on a path what international institutions expected Pakistan to rank 18th economy by 2030.

“We tried to shorten this period by four or five years. If the country were allowed in what directionPakistan would be ahead of Italy and Canada by 2025-26 at number 18 instead of 54th place where he stands now, because of Panama (Documents) drama and similar other tactics and the country had to pay a very large price”, he said, adding that the country, despite three sit-ins, recorded 6.3% growth rate4 pcs rate of inflation, food inflation at 2%, stable rupee, low interest rates and highest income before the end of the PML-N’s term.

Mr. Dar said that Mr. Khan destroyed the country not only during his four-year but also during the bow out renounced the sovereign agreements he had signed with in international institutions only to gain political advantage by misleading people that he cared for their interest during the story colleagues what did he have successfully set mines.

Published in Dawn, September 29, 2022

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Derrick Santistevan
Derrick Santistevan
Derrick is the Researcher at World Weekly News. He tries to find the latest things going around in our world and share it with our readers.

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