Silence of political parties on economic situation disappointing

Islamabad : Islamabad Chamber of Small Traders (ICST) on Saturday said silence of the political parties on the economic situation and IMF loan to salvage the country is disappointing.

The manifestos of the political parties are silent about bankruptcy, declining forex reserves, IMF loans to save the country and many other important matters which is disappointing which proves their indifference to the pressing problems, it said. A loan from the IMF seems to be only option to save the country from bankruptcy but all the political parties continue to remain silent on the issues which is deception, said ICST Shahid Rasheed Butt. He said that PML-N remained in power for five years, therefore, they have a clearer picture about the situation but they too have remained silent while the caretakers are openly saying that the country should go to the lender.

The former government should have secured a loan from the international lender to save the country from the current mess but it was avoided for the political reason which raises questions about their intentions.

Some businessmen think that important policy decisions by the caretaker government and continued erosion in the exchange rate amounts to overstepping the mandate. The business leader said that Pakistanis have stashed hundreds of billions of dollars in the foreign banks that should be brought back to retire debts and construct dams.