ISLAMABAD: The President of Pakistan Economy Watch (PEW) Dr. Murtaza Mughal said that Washington need a weak country which can dance on their tunes hence an economic sound and stable Pakistan is not in their interest.
The PEW President Dr. Murtaza Mughal on Tuesday said US has been deliberately hurting Pakistan’s weak economy to realise its designs in the region.
He said that State Bank of Pakistan is left with almost three billion dollars of forex reserves enough to meet import bill for a month after which situation can deteriorate rapidly.
On the other hand, government has failed to introduce policies which can boost reserves, bar flight of capital, broaden tax net or lure investors, he said.
Dr Murtaza Mughal said that incumbent rulers have been following policy of predecessors by claiming to broaden tax net and cut expenditures but relaying on borrowings which has triggered inflation and humbled rupee.
This shortcut to raise funds have crowded out private sector of the credit market and annoyed business community while the opposition as well as the IMF has preferred to remain silent over the issue, he noted.
In such a grim situation, said Dr Murtaza Mughal, the US has been unnecessarily delaying disbursement of US 1.5 billion due as Coalition Support Fund.
Americans have developed a habit to stop payment of dues but an obstruction at this critical juncture simply means that US want Pakistan to default on its obligations.
Similarly, delay in grant of GSP plus to Pakistan is also creating problems for exporters, he said.