Allah responsible for country’s development, prosperity, says Pak Finance Minister Ishaq amid economic slump

Pakistan: Amid the worst economic crisis prevailing in the country, Finance Minister Ishaq Dar said that Pakistan is the only country founded in the name of Islam and Allah is responsible for its development and prosperity.

Finance minister Ishaq’s remark

While addressing an inauguration ceremony of the Green Line Express Train service here, the senior Pakistan Muslim League-Nawaz (PML-N) leader said that he had full faith that Pakistan would progress because it was created in the name of Islam.

Dar said, “If Allah can create Pakistan then He can also protect, develop, and make it prosper.”

“They are trying their best to improve Pakistan’s condition under Prime Minister Shehbaz Sharif’s leadership,” the minister added.

Dar has reiterated the incumbent government inherited several problems from the previous government led by Imran Khan, adding, the government was working day and night. “The team is trying to improve the situation ahead of the elections.”

Further, the minister said, “The team is trying to improve the situation ahead of the elections.” He said the country is still suffering due to the “drama” that started five years ago and insisted that the economy was strong during former prime minister Nawaz Sharif’s tenure from 2013-2017.

Moreover, he said that Pakistan Stock Exchange was the best-performing capital market in South Asia and ranked fifth in the world during Nawaz Sharif’s era and the sights of the world institutions were set on it. The nation was now paying the price for the “Panama drama”, the ouster of the PML-N government, and similar issues it faced over the last five years, the minister said.

“Pakistan was on the growth track during Nawaz’s tenure, but it was derailed,” he said. “People can see the destruction the country suffered in the last five years, and they know who has delivered in the past,” he added.

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Pak rupee falls to its lowest record

After the cash-strapped government relaxed its grip on the exchange rate to win much-needed loans from the IMF, Pakistan’s currency has fallen to a record low of Rs. 255 against the US dollar.

Moreover, the Washington-based company, IMF had asked the Pakistani government to end its control and let market forces determine the currency rate, a condition that was readily accepted.

Pakistan has been looking to win the global body’s approval to get $6.5 billion in funding which is currently stalled. While in November 2022, the country has won an IMF bailout, the release of funds has been stalled this year. According to the media report, the currency has fallen by Rs. 24 and was trading at Rs 255 against the US dollar.