Minister of State for Finance and Revenue Dr Aisha Ghaus Pasha has insisted that the incumbent government has successfully brought the country back from the verge of bankruptcy thanks to good management policy. Replying to a calling attention notice raised by Senator Sania Nishtar regarding the current sorry state of the economy, the short and long-term distortions creating unprecedented challenges for the poor, the minister told the Senate that the government had a “plan to improve the country’s economy.” “The government inherited fragile economy, besides devastating floods directly affected 33 million people and inflicted a $33 billion loss,” she added.

The state minister said all commercial banks had been directed to open the letters of credit for import of food items, medicines and fuel. She claimed that the import of luxury items had been curtailed.  Aisha Pasha said despite several challenges, all-out efforts were being made to provide relief to the ordinary people through Benazir Income Support Programme, Utility Stores Corporation, National Disaster Management Authority and Kissan Package.

The minister said the Russia-Ukraine conflict, global recession and devaluation of currencies against the dollar multiplied the problems of various countries, including Pakistan. “The government reviewed the International Monetary Fund programme and had to take major steps to put the country on the right track,” she claimed.

Aisha Pasha said all the political parties should stand united while rising above their political interests to steer the country out of the current quagmire. She said there was dire need of carrying out structural reforms to put the country on the road to progress and prosperity.

Earlier, moving the calling attention notice, Senator Sania Nishtar said the country’s exports had plunged and current account and fiscal deficits were continuously witnessing an upward trend. She was of the view that there was a dire need to manage fiscal and current account deficits. The inflation and unemployment had made the life of ordinary people miserable, she noted.

Credit : Independent News Pakistan-WealthPk