ISLAMABAD, Jan 19: The spokesman for Pakistan People’s Party, Farhatullah Babar has said that military government’s economic policies and programmes during the last three years have miserably failed.

In a statement issued on Saturday, he said: “The former finance minister, had admitted on Jan 4, 2003, that implementation of key reforms remained a challenge. He had admitted that the military was unable to raise investment levels necessary for higher growth and for fighting poverty and that despite the support from the US and multi-lateral agencies, it failed to inspire investors either at home or abroad.”

Mr Babar said: “Under the Economic Revival Plan, Mr Musharraf had promised to improve investors’ confidence, reduce the country‘s dependence on foreign aid and promote economic growth. Tragically, the reverse happened.”

The PPP spokesperson claimed: “Since Sept 11, 2001, the international community supplied economic aid. The burden of foreign debt was eased through rescheduling, while foreign exchange reserves rose through aid, expatriates’ remittances and repatriation of private capital.”