Ishaq Dar urges investors to encash dollars to avoid losses

LAHORE: Finance Minister Ishaq Dar has criticized ‘pseudo intellectuals’ for their predictions about the devaluation of rupee and increase in the US dollar price.

He was addressing the All Pakistan Textile Mills Association (APTMA) award ceremony here at the Governor’s House on Saturday.

The US dollar price would be brought down, he said and urged the investors to encash their dollars to avoid losses.

About the IMF loan, Dar said it was unavoidable as the bad policies adopted by previous regimes were responsible for the current economic situation.

Talking about the economic achievements of government, he said it had paid 3 billion doallars liabilities of the previous government and fulfilled the sovereign commitments as a dignified nation.

It has achieved 5 per cent GDP growth due to its economic reforms, he added.
Endorsing the idea of privatization for better economic activity by APTMA Group Chairman Gohar Ijaz, the minister said the government would privatize some of the institutions.

The government would recover outstanding Rs 800 million from the Etisalat.
The finance minister conveyed the heart-felt felicitations to APTMA from Prime Minister Muhammad Nawaz Sharif.