No one can change structure of country’s economy during a year: Khusro

ISLAMABAD (92 News) – Replying to PML-N Leader Ahsan Iqbal’s questions in National Assembly (NA), Minister for National Food Security Khusro Bakhtiar said on Thursday that no one can change the structure of the country’s economy during a year. Speaking to the floor of NA, the minister maintained that when the government came into power, the debt had risen to 78 per cent of the gross domestic product (GDP). “When the loan volume is 78 per cent than all the money will spend on paying interest,” he added. He said that this is not the time of politics on economy, adding that the provinces should have to collect taxes for running the affairs of country. He also invited opposition to jointly work out a charter of economy, outlining a reform package for revival of agriculture, industry, tax collection, banking and energy sectors in the country. Khusro Bakhtiar said the government was facing economic challenges including rising inflation and stagnant exports. He said the federal government held a meeting on the issue of wheat and the Sindh government had committed to procure 1.4 million tons a year. The government had devised export-oriented policies to increase exports, he said adding prices of agricultural products were dependent on demand and supply and the government was taking initiatives to keep prices low. Earlier, speaking in the House, PML-N leader Ahsan Iqbal said that the government had broken the backbone of the economy and the people in just 18 months. He said that the economic crisis is due to incompetence of the rulers. “The incompetent government continued to hide itself behind the institutions, but the nation wailed. To our questions, it was replied that the government and the army are on the same page,” he said. He said that the inflation rate had touched 14 per cent in the country. “The economy was growing at 5.8 per cent about 18 months ago and now it is at two per cent,” he said. Ahsan Iqbal said that the budget speeches record would show that the opposition had pointed out the increase in inflation. “The fears of the opposition have proved to be true. The government’s false hopes proved to be wrong,” he added. He said that there was record joblessness and poverty in the country. “The finance adviser does not know about the problem even after 18 months. The government is plundering the masses with both hands. The government least bothers about the resolution of the problems,” he added.