difficult economic situation
Islamabad
The Finance Division Tuesday rebutted reports of an “economic emergency” being imposed in Pakistan and said such messages were being circulated by elements who do not want the country to prosper.
“Finance Division not only strongly rebuts the assertions made in the said message, but also categorically denies it and that there is no planning to impose economic emergency,” a statement from the division read.
The statement mentioned that the message is “unfortunately aimed at creating uncertainty” about the economic situation in the country and can only be spread by those “who do not want to see Pakistan prosper”.
The division said that the creation and spreading of such false messages were against the national interest in these times of economic hardship.
“A mere reading of the nine points mentioned in the message indicates how far-fetched those suggestions are,” the division said, noting that it was quite “inappropriate” to equate Pakistan with Sri Lanka, given the inherent strength and diversity in the country’s economy.
Defending itself, the division said the present difficult economic situation is mainly the result of exogenous factors like the commodity super-cycle, the Russia-Ukraine war, global recession, trade headwinds, the Fed’s increase in policy rates, and devastation wreaked by unprecedented floods.
