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Thursday, June 13, 2013
PML-N handed over broken economy: DarBy Tanveer Ahmed
ISLAMABAD: While presenting the federal budget 2013-14, Federal Finance Minister Ishaq Dar used the occasion to charge sheet the previous PPP government for handing over a broken economy to the new elected government of the PML-N.
“My enthusiasm is seriously dampened as I discover that the new government is inheriting a broken economy,” Dar remarked at the start of his budget speech as the PPPP members glared from the opposition benches. The first speech of the finance minister of the new PML-N government went on smoothly with the exception of a mild protest from the PPP ranks when Dar skipped the name of their late leader Benazir Bhutto while announcing that the government would continue the Income Support Programme which was named Benazir Income Support Programme by the PPP regime.
The proceedings went rather smoothly after the order of the speaker to avoid talking. However, Dar accused the previous PPP government of completely ruining the national economy. “I wish I could identify one single area where their economic management was in the best national interest,” he declared. Indeed, he felt, there has been complete mismanagement, rather the economy was run on autopilot and its inherent strengths and weaknesses played out at their own without any real contribution of policy.
From economic growth to prices, revenues to expenditures, public debt to circular debt, monetary expansion to interest rates, exchange rates to foreign exchanges reserves and sustainability of balance of payment, the finance minister remarked there is complete mismanagement.
Dar said the verdict of the last general election was against mismanagement “practiced at an unprecedented level” by the former government and termed it public accountability. The minister said that “we are dismayed by this inheritance but not discouraged or disheartened”. He said, “Our resolve to put things right has only strengthened after realisation of the severity of challenges we are facing.” Dar declared that under the leadership of Nawaz Sharif, the PML-N government is determined to turn the tide and not just restore the health of economy but take it to new heights by enabling it to realise its full potential.
Courtesy www.dailytimes.com.pk