LAHORE
\nNawaz Sharif \u2013 who has served as prime minister thrice \u2013 on Thursday said Pakistan would have progressed and much better placed at a rapid speed, if the policies initiated by his government in 1990s were implemented without any interruption.
\nAddressing a gathering at the Lahore Chamber of Commerce and Industry, he recalled that India had copied the policies introduced in 1990s \u2013 the first of his three tenures \u2013 and attained economic growth.
\nThe then PML-N government helped businesses get rid of the vicious bureaucratic circles, Nawaz said about the trade liberalisation he had brought in Pakistan, which, he added, boosted the country\u2019s national exchequer.
\nOther countries of the world too passed through the same phases, he noted with reference to the transition from a planned government-controlled economy to free market where the people have freedom to invest according to the needs and profitability while generating competition.
\n\u201cWe understand the economic hardships being faced by Pakistan,\u201d he said, adding that the rescuing the people from the current record-breaking inflation and poverty was their responsibility. \u201cIt is their right if the people demand development, [if they] demand education and health. The government responsible for providing these services,\u201d the three-time prime minister stressed.
\nNawaz recalled that the PML-N were not ready to form a government in 2022, but saving Pakistan from default became a priority.
\nThe resignation speech by Shehbaz Sharif, who was leading the ruling coalition, had been prepared, which checked himself, he told the audience \u2013 a development that didn\u2019t happen but widely reported at that time.
\n\u201cWe develop the country, [and] then face exile and imprisonment too,\u201d Nawaz said about his repeated experience. He noted, \u201cWe had committed injustices against our parliament and prime minister ourselves\u201d and \u201cthen handed over the country to someone else\u201d \u2013 a clear reference to those who deposed him and brought the PTI chairman into power.
\nThe rupee, the economy, the entire system had been ruined as a consequence, which resulted in a fivefold increase in prices, he mentioned. The electricity consumer receiving a Rs1,000 monthly bill during the PML-N government was currently Rs15,000, the PML-N supremo added.
\nNawaz said Pakistan jumped in ranking and placed 24th among the world\u2019s economies during 2013-17. \u201cWe kept the dollar [exchange rate] at Rs104 for four years,\u201d he said and added that the dollar would have been available for Rs40 or Rs50 if his government policies were not interrupted.
\nAbout the nuclear tests conducted in 1998, he said the Muslim nations had started trusting Pakistan as their custodian after he resisted the pressure and decided to go ahead the move, but the things went wrong since then and the country was begging for $1 billion.
\nThe current state of affairs was a product of \u201cthe poor decisions that we took ourselves\u201d, as \u201cwe shot ourselves in the foot\u201d, he remarked. Nawaz also mentioned that the policy [interest] rate during his government was 6 per cent only, which had reached 22pc. \u201cWho can do business with such a high policy [interest rate]?\u201d he questioned.<\/p>\n","protected":false},"excerpt":{"rendered":"
LAHORE Nawaz Sharif \u2013 who has served as prime minister thrice \u2013 on Thursday said Pakistan would have progressed and much better placed at a rapid speed, if the policies initiated by his government in 1990s were implemented without any interruption. Addressing a gathering at the Lahore Chamber of Commerce and Industry, he recalled that […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":{"0":"post-368352","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-top-news"},"yoast_head":"\n