Tough economic decisions have started showing results, Azhar says

Dawn.com Published October 6, 2019

Federal Minister for Economic Affairs Hammad Azhar addressing a press conference in Lahore on Sunday. — DawnNewsTV

Federal Minister for Economic Affairs Hammad Azhar on Sunday said that the tough economic decisions taken by the incumbent government have started showing positive results, Radio Pakistan reported.

The economic affairs minister, while addressing a news conference in Lahore, said that the economy has achieved stabilisation and will now transition into a growth phase.

Talking about economic stability, he said foreign exchange reserves are now stable and the rupee-dollar exchange rate is also stabilising.

He said that the PTI government had inherited a massive debt and had to fulfill immediate commitments of more than $10 billion in loan repayments and interest.

The minister held "huge circular debt" responsible for the increasing prices in the power sector.

Talking about the underprivileged segments of the society, he said Prime Minister Imran Khan's vision is to introduce a social safety net for the poorest of the poor in the country. He said the Ehsaas programme launched by the Pakistan Tehreek-i-Insaf (PTI) government is a major plan for poverty reduction and is a role model for the world to emulate.

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Fahad

Oct 06, 2019 05:15pm

Good step. Better start lowering the prices because the public is not liking it and going against voting for PTI in next elections.

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rehan

Oct 06, 2019 05:26pm

Maybe for him but. No change on de realistic ground.

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Sharif

Oct 06, 2019 05:30pm

Hammad Azhar is the only minister emerged as a dynamic and true professional who is educated, knowledgeable and mannered person.

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Orakzai

Oct 06, 2019 05:35pm

No more trust on the hollow speeches of PTI.

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Zoro

Oct 06, 2019 05:41pm

@Sharif, The best educated, knowledgeable and well mannered minister is Sheikh Rasheed... ;-)

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Syed A. Mateen

Oct 06, 2019 05:46pm

It is nothing more than day dreaming. A common man is not enjoying the same facilities, don’t get equivalent pay and perks similar to a Federal Minister. When the wheel of economy will start moving entire nation will come to know automatically and nobody has to clarify about the economic situation as its affects will trickle down from top to bottom across the board.

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Adi

Oct 06, 2019 05:47pm

Too little too late , they will continue to lip sync till next elections!

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Political gourmet

Oct 06, 2019 06:06pm

@Sharif, Good job. PM Imran Khan keep a check on performance of all ministers, hence need not gauge each performance please.

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Kallu

Oct 06, 2019 06:07pm

Any numbers yo back up ?

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Asif

Oct 06, 2019 06:14pm

@Sharif, Shouldn't we praise people for THEIR WORK and not for their words, personality and qualification/s. So far, PTI government has almost done the same and speeches and promises by any MINISTER are almost same regardless of their party. What is actual need of the country and the common people that is still far from real understanding.

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SoS

Oct 06, 2019 06:25pm

When the results start appearing, the people will know on their own. Believe me, they won't need to learn about that from the daily statements of ministers. Stop talking and do something to undo the damage PTI has wrecked on the economy in the last 3 and a half years.

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Philosopher (from Japan)

Oct 06, 2019 06:34pm

As sun rises from the west. Isn’t

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Dr Amir Khan ENT

Oct 06, 2019 07:10pm

Excellent! Can we see the results with our normal eyes or we will need night vision glasses?

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lion

Oct 06, 2019 07:13pm

just few days back his PM has said economy needs over haul etc and now this. there is no coherence in this government. this is a mistake

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Mujahid Hussain

Oct 06, 2019 07:18pm

We want honest and industrious people in economic division. Black sheep of previous governments should be shunted.

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kaspar

Oct 06, 2019 07:24pm

Stabilization means drastic decrease in aggregate demand, shrinkage of the economy, decreased rate of growth. How it can lead to betterment for the economy is beyond comprehension. Btw, IMF programs never led to better economic conditions in any borrowing developing country. There is no reason why they would succeed this time.

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Nabeel

Oct 06, 2019 07:26pm

Decision Making does not reflect alignment in words to action! No Economic Growth and Job Creation plan, neither Economic Transformation nor institutional excellence reforms. Poverty is alleviated by creating jobs not by distribution of funds!!!!

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Nabeel

Oct 06, 2019 07:27pm

Please don’t praise when it isn’t due. Huge gap in words to action.

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Vikas

Oct 06, 2019 07:33pm

@Sharif, you can’t say that. I mean you have that scientist guy? The head of science and technology in Pakistan and now he is the minister too. I heard he developed a totally made in Pakistan hi tech device to sight the moon. He’s brilliant too.

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Zulfi Ahmad

Oct 06, 2019 07:33pm

IK govt is on economic contraction policy and using IMF 1940 template. I call it kerosene economics. How jobs can be created when govt is draining blood from the veins. Pakistani people need helicopter money for creating liquidity in the system. More money in people's hand create more economic activity.

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Mohsin Abbas

Oct 06, 2019 07:47pm

You mean to say that 11% inflation, Lowest GDP growth 2.4%, Foreign Debt crossing $106 billion, stock exchange index at 32000 points, highest ever electricity, Gas, Fuel, Lowest PSDP spending.... is this means stabilize economy?

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Oct 06, 2019 07:57pm

We want results on the ground. Lets see . Business men met COAS just 3 days back.

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Javed

Oct 06, 2019 08:03pm

Where? Maybe from your high office.

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Bitter Truth

Oct 06, 2019 08:15pm

World bank has downgraded growth forecast from 5.5% to 2.8% next year and this minister fooling us that Pakistan is ready to take off on growth trajectory!!! What a shame

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Oct 06, 2019 08:27pm

In your dreams, minister.

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Gordon D. Walker

Oct 06, 2019 08:31pm

Stabilization... The economic patient is still in Intensive Care. Gordon D. Walker Canada

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Bilal Kaifi

Oct 06, 2019 08:42pm

Losses of state owned enterprises force the government to balance by raising electricity tariffs . The exports become less competitive each time the burden is shifted on manufacturers. It will be an era of growth if the losses of state enterprises were eliminated by checking theft so the exports could reach its true potential like rest of emerging Asia .

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Parvez

Oct 06, 2019 08:55pm

Saying this is pointless ...... the proof of the pudding is always in the eating and what the people are eating tastes real bad.

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Oct 06, 2019 09:18pm

He should just visit the market and see the increase in prices of all items.

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Ash Man

Oct 06, 2019 09:52pm

When no one appreciates you , make sure you praise yourself.

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Manzer

Oct 06, 2019 10:12pm

Yes, we can see the effect in economic downturn and the rise in unemployment. No amount of Ehsas can reduce the poverty caused by unemployment. Every government inherits loans taken by the previous governments, for how long will PTI continue to use that as an excuse.

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Bhaarteey

Oct 06, 2019 10:14pm

If the statement is true, wishing you all the best. But a long long way to go continuously.

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Gordon D. Walker

Oct 06, 2019 10:18pm

The patient has been 'stabilized'... Sure... Now if you could only get it out of Intensive Care... Gordon D. Walker Canada

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MUHAMAD AMIR KHAN

Oct 06, 2019 10:51pm

I wonder which economy is he referring to

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Mansoor

Oct 06, 2019 10:52pm

It would have been good, had he shown figures to support claims of improvement.

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Khurram

Oct 06, 2019 10:53pm

Thanks for informing us otherwise we would have never come to know about it.

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Adnan Bashir

Oct 06, 2019 11:20pm

Good.Weldon. will bear fruits.InshaALLAH

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Israr Khan Ismailzai

Oct 06, 2019 11:21pm

Thank u IK and PTI.

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Kemariwala

Oct 06, 2019 11:40pm

@Adi, why is it too late, let us all do our share. Don’t despair please

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Waseem Sarwar

Oct 07, 2019 12:04am

What steps were taken and what are the numbers to prove that?

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Irfan

Oct 07, 2019 12:11am

PTI government has emerged to be such a disappointment. They have no clue whatsoever. They are doing exactly the same things for which they blamed the other parties. What qualifications does Mr. Hammad Azhar have related to finance? He is a lawyer! His only qualification is that he is the son of Mian Azhar, a wealthy steel mill owner. Apart from his family's financial position and years of trying to get back into politics through PTI, what does Mr. Hammad Azhar know about finances and economy? It is such a pity that well qualified and abled people who are experts on economics and finances are not a part of the cabinet but these wealthy tycoons are. The only reasonable person in Imran Khan's cabinet is Dr. Zafar Mirza. That is it. What a shame!

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Cyeda Fayyzzah

Oct 07, 2019 12:34am

New govt, new drama. People voted for PTI as they really wanted to see change. That’s not the change what the middle class or poor people wanted. IK and his govt is crushing the middle class and poor people. Where the ridge gourd used to be 80rs/kg and now it’s 150rs/kg, a normal razor used to be 47 Rs and now it’s 59 rs where as 40 Rs have been increased on shampoo. I really do not think that this govt will give anything to the public. Infact they are snatching every thing from public. There is going to be a time (Godforbidden) when people will start committing suicide because of this so called TABDEELI.

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Hamza

Oct 07, 2019 12:55am

@Fahad, bro you really think he was elected by vote. If so then first please open your eyes

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Onetwo

Oct 07, 2019 12:59am

Well Imran & Co. have definitely become very rich.

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Pathanoo

Oct 07, 2019 01:20am

What Results?

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khan

Oct 07, 2019 01:39am

How are those ‘positive results’ benefiting the poor masses ? is there a supporting evidence to the claim ?

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MirzaCanada

Oct 07, 2019 01:45am

@Kallu, PTI has a number to back up the claim which is called rhetoric.

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Facts_not_Fiction_

Oct 07, 2019 03:25am

put the words into numbers and show us all - what does it mean - We all know - how YOU ALL play with words - put numbers and figures I dont believe that reducing the current deficit by curbing import (except for luxury items) would solve the problem .... Machinary import means PRODUCTION - which means - growth - i am fearing that because of HUGE RS/Dollar disparity - those imports is dwindling - which should not be the case .... if you can get Rs back to 120 - i would call that an achievement - or below 100 ...

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Zia

Oct 07, 2019 04:54am

@Kallu, Current account deficit resulting in stable dollar resulting in stable inflation rate.....

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optimist

Oct 07, 2019 06:17am

Happy to get this news. I hope we don’t see a contradiction to this news next week.

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optimist

Oct 07, 2019 06:52am

I fantastic news. I wish Hammad Azhar the best.

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Jyoti Chandnani

Oct 07, 2019 07:18am

@rehan, not too fast!

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SHAHID SATTAR

Oct 07, 2019 08:51am

Glad you could save money out of your meagre earnings as representative of the present government for a few new suits to wear. This goes a long way to show that the government's policies are bearing fruit.

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SHAHID SATTAR

Oct 07, 2019 12:31pm

@Cyeda Fayyzzah , So many things to complain about that you forgot to mention the one basic item which is bread.

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Imtiaz kh

Oct 07, 2019 07:09pm

@Sharif, .He is one the team who has spoiled economy in all fields Take dollar, petroleum / general prices, growth rate fallen to 2.4 n all other sectors Pakistan amongst 6 nation's in the region the lowest . The most incompetent n even devoid of political know how n constitution.

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