PESHAWAR
Amun Taraqqi Party (ATP) chairman Muhammad Faiq Shah expressed grave concern over rising inflation and unemployment in the country.
Shah while chairing a meeting here at the party’s central secretariat on Thursday said the tall claims that had been made by incumbent 11-parties unity government before coming into power regarding instant elimination of ‘price-hike’ and put the economy on the right track were proved to flatten to ground.
He blamed political instability for the present economic downfall.
Shah, while referring to a report of Pakistan Bureau of Statistics, said the inflation rose up by 48-years high and prices of food commodities touched a new peak during the last one year.
The ATP chairman criticized rulers who failed to arrest ‘inflation’ and ‘economic’ slide. He said earning livelihoods for poor families had made it difficult.
Faiq said despite the government orders, there was no check on rising prices and authorities completely kept mum as profiteers became active to squeeze people ahead of the holy month of Ramazan.
On the other hand, the party chief noted yesterday, the US dollar delivered another hard punch to the Pakistani rupee in the interbank trading, going up by a healthy margin of Rs4.61 and Rs8 in the open market.
The party chief continued to say that the trade deficit is widening while forex exchange reserves are rapidly plummeting.
He added industries are also reeling owing to unavailability of raw material, which has pushed up the prices that were directly affecting the poor segment of the society.
Shah mentioned about implementing harsh conditions to revive the loans program to stabilize the falling economy, saying that Pakistan has surrendered to another demand and will impose surcharge on the power consumers in next fiscal year.
Commenting on the scenario after the verdict of apex court regarding holding of elections in Punjab and Khyber Pakhtunkhwa, the party chairman asked all political parties to accept the decision of the superior judiciary.
He furthermore emphasized to create a favorable environment for holding elections to remove ambiguity so the political and economic stability will come in the country.
Otherwise, he warned the anarchy and people’s uprising would occur if an attempt was made to create further vagueness under the prevailing circumstances.
