LAHORE: The government is allowing new amnesty scheme in order to bring black money of their supporters back into the country, and the next general election will be financed by this ill-gotten wealth says Pakistan Awami Tehreek chief Tahirul Qadri.

Addressing the core committee, he said the entire scheme of things was designed to win the next elections at the cost of national wealth and economic health. This must be opposed through every possible means.

“An independent inquiry into ever-sliding value of rupee against other currencies is also a matter of concern for everyone and a matter of independent inquiry. The so-called amnesty scheme and the rising dollar benefit the same wealthy class which the government has been pandering to. All money launderer, tax evaders and commission agents will be the prime benefactors,” said the PAT chief.

“How can rupee slide by five per cent against dollar without the government’s nod and that too in a few days? It is either a case of incompetence or political and financial pandering. This slide will be disastrous for everyone. Petroleum, diesel products and electricity will become costlier, triggering a multiplier impact on the economy and making life of the poor even poorer. National debt and its servicing will now cost more. This is a national problem and must be dealt with as such,” Qadri insisted.

The economy, he said, was being built on twin basis -- lenders’ advice and loans. Both these basis hardly augur well for the country. The country’s foreign debt had now swelled beyond $94 billion. On the other hand, national reserves had gone abysmally low – less than what the country owes in national economic commitments, which it had to meet within the current fiscal. All these factors pointed to a national crisis situation, which needed an urgent solution, he demanded.

Published in Dawn, March 21st, 2018