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Ahsan Iqbal lambastes govt for 'destroying economy'
Dawn.comUpdated February 13, 2020


PML-N's Ahsan Iqbal said on Thursday that the current government "believes 200 million people live in a village and can be fed through a couple of langars and tandoors".

Iqbal was responding to Adviser to the Prime Minister on Finance Dr Abdul Hafeez Sheikh's speech on the National Assembly floor yesterday, regarding the economy.

In his speech, Shaikh had said that those who had themselves approached the International Monetary Fund (IMF) should not be criticising the government for doing the same.

Iqbal, when given the NA floor today, said: "These people kept criticising us at every step of the way, now they are asking us not to criticise them for taking the same measures. If these measures were so bad, why are they carrying them out today?

"They have brought a bad name to national institutions. These institutions did not tell them to give such a budget, these institutions did not tell them to bring inflation. They need to stop hiding behind national institutions and saying that the institutions are faulty.

"They keep crying about current account deficit, they did not understand that the current account deficit had shot up because of the large amount of investment we had put into development projects, especially in the energy sector.

"What they failed to understand is that once these projects were completed, the deficit would also have come down and rationalised," Iqbal said.

'Think across party lines'
Minister for National Food Security Makhdoom Khusro Bakhtiar, who took the floor after Iqbal, lamented that the government was facing troubles due to low revenue. He said that currently, there were five million bank accounts in the country but only 0.5m were within the tax net.

"We need to take a moment and think across party lines on how we will run this country when the volume of debt is at 78 per cent. We will have to pay interest and a principle amount on it.

"How will this country be run, even if we earn 5 trillion with a 12pc GDP tax ratio, then the federal government then has to give around 3 trillion to the provinces. So the federal government already starts at a deficit."

He insisted that every government will face the same challenges as the incumbent one. The federal minister said the share of investment by the private sector in Pakistan's economy was a mere 9pc because banks do not have the money to provide loans.

"We need to develop a mindset in this country that investors need to be respected," he said.

"The tragedy of this country is that we keep changing policies," he lamented. "First we [implemented a] nationalisation policy, then [later] we privatised all the banks.

"What are the banks doing? Right now, banks are providing money to the government, or to the main sectors like fertiliser, sugar, cement, on the most favourable interest rates. But the small sector, that of small-medium enterprises (SME), are merely getting 6pc of credit — in 2000, they would get 17-18pc of total credit.

"So we will have to think that when we develop a national development finance institution, the money will flow into SMEs and new sectors."

He also directed the House's attention towards the developing economies of neighbouring countries China and India, adding that by the time Pakistan turns 100, the country will have to feed 400 million people from existing resources.

He urged the parliament to unite and draw up a national economic charter instead of doing politics over the economy.

The session was adjourned until 2pm on Friday after opposition pointed out quorum.

Fawad disappointed in opposition
After the session was adjourned, Minister for Science and Technology Fawad Chaudhry criticised the opposition's performance in parliament, terming it as "very disappointing".

While speaking to the media outside the Parliament House, Chaudhry advised the opposition should work on the way it participates in parliamentary proceedings. He added that no serious discussion on the economy had come from the opposition benches.

Criticising the performance of the previous government, he said: "If we are buying LNG and gas at double the international prices, it is because of Shahid Khaqan Abbasi and his government."

He also blamed the PML-N for not explaining to the assembly the reason behind signing a 15-year agreement which bound not only the party's own government but also the next two.

@ziaulislam @PakSword @BATMAN @maverick1977 @Nilgiri @Syed1.
 

maverick1977

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Ahsan Iqbal lambastes govt for 'destroying economy'
Dawn.comUpdated February 13, 2020


PML-N's Ahsan Iqbal said on Thursday that the current government "believes 200 million people live in a village and can be fed through a couple of langars and tandoors".

Iqbal was responding to Adviser to the Prime Minister on Finance Dr Abdul Hafeez Sheikh's speech on the National Assembly floor yesterday, regarding the economy.

In his speech, Shaikh had said that those who had themselves approached the International Monetary Fund (IMF) should not be criticising the government for doing the same.

Iqbal, when given the NA floor today, said: "These people kept criticising us at every step of the way, now they are asking us not to criticise them for taking the same measures. If these measures were so bad, why are they carrying them out today?

"They have brought a bad name to national institutions. These institutions did not tell them to give such a budget, these institutions did not tell them to bring inflation. They need to stop hiding behind national institutions and saying that the institutions are faulty.

"They keep crying about current account deficit, they did not understand that the current account deficit had shot up because of the large amount of investment we had put into development projects, especially in the energy sector.

"What they failed to understand is that once these projects were completed, the deficit would also have come down and rationalised," Iqbal said.

'Think across party lines'
Minister for National Food Security Makhdoom Khusro Bakhtiar, who took the floor after Iqbal, lamented that the government was facing troubles due to low revenue. He said that currently, there were five million bank accounts in the country but only 0.5m were within the tax net.

"We need to take a moment and think across party lines on how we will run this country when the volume of debt is at 78 per cent. We will have to pay interest and a principle amount on it.

"How will this country be run, even if we earn 5 trillion with a 12pc GDP tax ratio, then the federal government then has to give around 3 trillion to the provinces. So the federal government already starts at a deficit."

He insisted that every government will face the same challenges as the incumbent one. The federal minister said the share of investment by the private sector in Pakistan's economy was a mere 9pc because banks do not have the money to provide loans.

"We need to develop a mindset in this country that investors need to be respected," he said.

"The tragedy of this country is that we keep changing policies," he lamented. "First we [implemented a] nationalisation policy, then [later] we privatised all the banks.

"What are the banks doing? Right now, banks are providing money to the government, or to the main sectors like fertiliser, sugar, cement, on the most favourable interest rates. But the small sector, that of small-medium enterprises (SME), are merely getting 6pc of credit — in 2000, they would get 17-18pc of total credit.

"So we will have to think that when we develop a national development finance institution, the money will flow into SMEs and new sectors."

He also directed the House's attention towards the developing economies of neighbouring countries China and India, adding that by the time Pakistan turns 100, the country will have to feed 400 million people from existing resources.

He urged the parliament to unite and draw up a national economic charter instead of doing politics over the economy.

The session was adjourned until 2pm on Friday after opposition pointed out quorum.

Fawad disappointed in opposition
After the session was adjourned, Minister for Science and Technology Fawad Chaudhry criticised the opposition's performance in parliament, terming it as "very disappointing".

While speaking to the media outside the Parliament House, Chaudhry advised the opposition should work on the way it participates in parliamentary proceedings. He added that no serious discussion on the economy had come from the opposition benches.

Criticising the performance of the previous government, he said: "If we are buying LNG and gas at double the international prices, it is because of Shahid Khaqan Abbasi and his government."

He also blamed the PML-N for not explaining to the assembly the reason behind signing a 15-year agreement which bound not only the party's own government but also the next two.

@ziaulislam @PakSword @BATMAN @maverick1977 @Nilgiri @Syed1.
how did he ever got admitted to MBA program at Wharton U penn? he is one of the most low class person i have met in Pakistani politics. i wish he had some brains. Wharton school of business should take his MBA back.
 

ziaulislam

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Ahsan Iqbal lambastes govt for 'destroying economy'
Dawn.comUpdated February 13, 2020


PML-N's Ahsan Iqbal said on Thursday that the current government "believes 200 million people live in a village and can be fed through a couple of langars and tandoors".

Iqbal was responding to Adviser to the Prime Minister on Finance Dr Abdul Hafeez Sheikh's speech on the National Assembly floor yesterday, regarding the economy.

In his speech, Shaikh had said that those who had themselves approached the International Monetary Fund (IMF) should not be criticising the government for doing the same.

Iqbal, when given the NA floor today, said: "These people kept criticising us at every step of the way, now they are asking us not to criticise them for taking the same measures. If these measures were so bad, why are they carrying them out today?

"They have brought a bad name to national institutions. These institutions did not tell them to give such a budget, these institutions did not tell them to bring inflation. They need to stop hiding behind national institutions and saying that the institutions are faulty.

"They keep crying about current account deficit, they did not understand that the current account deficit had shot up because of the large amount of investment we had put into development projects, especially in the energy sector.

"What they failed to understand is that once these projects were completed, the deficit would also have come down and rationalised," Iqbal said.

'Think across party lines'
Minister for National Food Security Makhdoom Khusro Bakhtiar, who took the floor after Iqbal, lamented that the government was facing troubles due to low revenue. He said that currently, there were five million bank accounts in the country but only 0.5m were within the tax net.

"We need to take a moment and think across party lines on how we will run this country when the volume of debt is at 78 per cent. We will have to pay interest and a principle amount on it.

"How will this country be run, even if we earn 5 trillion with a 12pc GDP tax ratio, then the federal government then has to give around 3 trillion to the provinces. So the federal government already starts at a deficit."

He insisted that every government will face the same challenges as the incumbent one. The federal minister said the share of investment by the private sector in Pakistan's economy was a mere 9pc because banks do not have the money to provide loans.

"We need to develop a mindset in this country that investors need to be respected," he said.

"The tragedy of this country is that we keep changing policies," he lamented. "First we [implemented a] nationalisation policy, then [later] we privatised all the banks.

"What are the banks doing? Right now, banks are providing money to the government, or to the main sectors like fertiliser, sugar, cement, on the most favourable interest rates. But the small sector, that of small-medium enterprises (SME), are merely getting 6pc of credit — in 2000, they would get 17-18pc of total credit.

"So we will have to think that when we develop a national development finance institution, the money will flow into SMEs and new sectors."

He also directed the House's attention towards the developing economies of neighbouring countries China and India, adding that by the time Pakistan turns 100, the country will have to feed 400 million people from existing resources.

He urged the parliament to unite and draw up a national economic charter instead of doing politics over the economy.

The session was adjourned until 2pm on Friday after opposition pointed out quorum.

Fawad disappointed in opposition
After the session was adjourned, Minister for Science and Technology Fawad Chaudhry criticised the opposition's performance in parliament, terming it as "very disappointing".

While speaking to the media outside the Parliament House, Chaudhry advised the opposition should work on the way it participates in parliamentary proceedings. He added that no serious discussion on the economy had come from the opposition benches.

Criticising the performance of the previous government, he said: "If we are buying LNG and gas at double the international prices, it is because of Shahid Khaqan Abbasi and his government."

He also blamed the PML-N for not explaining to the assembly the reason behind signing a 15-year agreement which bound not only the party's own government but also the next two.

@ziaulislam @PakSword @BATMAN @maverick1977 @Nilgiri @Syed1.
So depressing interest rates destroying the savings and printing fake notes was a good practice.
Either this guy is an idiot or down right corrupt person who is lying to his breath..you choose
 

BHarwana

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So depressing interest rates destroying the savings and printing fake notes was a good practice.
Either this guy is an idiot or down right corrupt person who is lying to his breath..you choose
Can you tell me what is happening in economy that is hurting Ahsan Iqbal most or that is hurting people behind him most?
 

ziaulislam

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Can you tell me what is happening in economy that is hurting Ahsan Iqbal most or that is hurting people behind him most?
He is doing just political point scoring.
this is not political point-scoring this is intellectual dishonesty..
be vague if you want point-scoring don't lie

regardless, depends what the army thinks.. if the country is to survive PMLN or PPPP boom and doom economy cannot work, it has become national security issue now

all three parties have a good base and the ones that comes in power will be based upon swing areas of southern Punjab, rural KPK and some area of central Punjab..

historically the army has been accused of doing something or at least giving an expression of some being favourite that leads the "electables" to switch sides as parts of sindh, very few parts of rural KPK and all of southern Punjab is completely feudal base

it is right, they ran economy like it was peo's yard.

doesn't matter, common Pakistani wants an iPhone and free electricity..so pretty sure PTI is doomed next election..at least the country survived..

poor is squashed and they don't think they matter any way..
 
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Nilgiri

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Ahsan Iqbal lambastes govt for 'destroying economy'
Dawn.comUpdated February 13, 2020


PML-N's Ahsan Iqbal said on Thursday that the current government "believes 200 million people live in a village and can be fed through a couple of langars and tandoors".

Iqbal was responding to Adviser to the Prime Minister on Finance Dr Abdul Hafeez Sheikh's speech on the National Assembly floor yesterday, regarding the economy.

In his speech, Shaikh had said that those who had themselves approached the International Monetary Fund (IMF) should not be criticising the government for doing the same.

Iqbal, when given the NA floor today, said: "These people kept criticising us at every step of the way, now they are asking us not to criticise them for taking the same measures. If these measures were so bad, why are they carrying them out today?

"They have brought a bad name to national institutions. These institutions did not tell them to give such a budget, these institutions did not tell them to bring inflation. They need to stop hiding behind national institutions and saying that the institutions are faulty.

"They keep crying about current account deficit, they did not understand that the current account deficit had shot up because of the large amount of investment we had put into development projects, especially in the energy sector.

"What they failed to understand is that once these projects were completed, the deficit would also have come down and rationalised," Iqbal said.

'Think across party lines'
Minister for National Food Security Makhdoom Khusro Bakhtiar, who took the floor after Iqbal, lamented that the government was facing troubles due to low revenue. He said that currently, there were five million bank accounts in the country but only 0.5m were within the tax net.

"We need to take a moment and think across party lines on how we will run this country when the volume of debt is at 78 per cent. We will have to pay interest and a principle amount on it.

"How will this country be run, even if we earn 5 trillion with a 12pc GDP tax ratio, then the federal government then has to give around 3 trillion to the provinces. So the federal government already starts at a deficit."

He insisted that every government will face the same challenges as the incumbent one. The federal minister said the share of investment by the private sector in Pakistan's economy was a mere 9pc because banks do not have the money to provide loans.

"We need to develop a mindset in this country that investors need to be respected," he said.

"The tragedy of this country is that we keep changing policies," he lamented. "First we [implemented a] nationalisation policy, then [later] we privatised all the banks.

"What are the banks doing? Right now, banks are providing money to the government, or to the main sectors like fertiliser, sugar, cement, on the most favourable interest rates. But the small sector, that of small-medium enterprises (SME), are merely getting 6pc of credit — in 2000, they would get 17-18pc of total credit.

"So we will have to think that when we develop a national development finance institution, the money will flow into SMEs and new sectors."

He also directed the House's attention towards the developing economies of neighbouring countries China and India, adding that by the time Pakistan turns 100, the country will have to feed 400 million people from existing resources.

He urged the parliament to unite and draw up a national economic charter instead of doing politics over the economy.

The session was adjourned until 2pm on Friday after opposition pointed out quorum.

Fawad disappointed in opposition
After the session was adjourned, Minister for Science and Technology Fawad Chaudhry criticised the opposition's performance in parliament, terming it as "very disappointing".

While speaking to the media outside the Parliament House, Chaudhry advised the opposition should work on the way it participates in parliamentary proceedings. He added that no serious discussion on the economy had come from the opposition benches.

Criticising the performance of the previous government, he said: "If we are buying LNG and gas at double the international prices, it is because of Shahid Khaqan Abbasi and his government."

He also blamed the PML-N for not explaining to the assembly the reason behind signing a 15-year agreement which bound not only the party's own government but also the next two.

@ziaulislam @PakSword @BATMAN @maverick1977 @Nilgiri @Syed1.
Politicians (Esp when in opposition) find easy fault with the known problems.

Harder is to find solutions and do them when you are in power....especially proactively.

This goes for all sides in political system.

The answer as always lies in building good things OUTSIDE of politics...that survive and prosper regardless of political winds. These are often known as institutions. In the end it depends on the quality, honesty and focused discipline of the elite (and near-elite) of a country to do it.
 

A.A. Khan

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this is not political point-scoring this is intellectual dishonesty..
be vague if you want point-scoring don't lie

regardless, depends what the army thinks.. if the country is to survive PMLN or PPPP boom and doom economy cannot work, it has become national security issue now

all three parties have a good base and the ones that comes in power will be based upon swing areas of southern Punjab, rural KPK and some area of central Punjab..

historically the army has been accused of doing something or at least giving an expression of some being favourite that leads the "electables" to switch sides as parts of sindh, very few parts of rural KPK and all of southern Punjab is completely feudal base


doesn't matter, common Pakistani wants an iPhone and free electricity..so pretty sure PTI is doomed next election..at least the country survived..

poor is squashed and they don't think they matter any way..
HAHAHA IMF ke dalaal which era you live in 80s rofl, get your head checked first and then the per unit price of electricity and affordability in Pakistan for chinese mobiles rofl. IMF had raped Pakistan back in 1994 the poor and middle class is already finished now IMF has helped encourage all classes in Pakistan to do small crimes and rob each other to survive.

What an analysis, swing states in Southern Punjab and with blue state KPK and red state Sindh hahaha. IMF has build new feudal bases in Pakistan bureaucrat dalaal mafia with their children and looted money out of the country, sugar mafia, foreign foreign funded media mafia, auto mafia, cable mafia and foreign operated NGO FEMINIST mafia, currency mafia.

Thanks to IMF
We have a feudal structure across the board what an achievement by IMf to transform a country with strong middle class in 1988 into a beggar and cartel economy with corrupt core in just 25 years, amazing feat.
 

Syed1.

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HAHAHA IMF ke dalaal which era you live in 80s rofl, get your head checked first and then the per unit price of electricity and affordability in Pakistan for chinese mobiles rofl. IMF had raped Pakistan back in 1994 the poor and middle class is already finished now IMF has helped encourage all classes in Pakistan to do small crimes and rob each other to survive.

What an analysis, swing states in Southern Punjab and with blue state KPK and red state Sindh hahaha. IMF has build new feudal bases in Pakistan bureaucrat dalaal mafia with their children and looted money out of the country, sugar mafia, foreign foreign funded media mafia, auto mafia, cable mafia and foreign operated NGO FEMINIST mafia, currency mafia.

Thanks to IMF
We have a feudal structure across the board what an achievement by IMf to transform a country with strong middle class in 1988 into a beggar and cartel economy with corrupt core in just 25 years, amazing feat.
One simple question.... did we go to IMF or IMF came to us? Looking forward to a short answer. Thanks.
 

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