How to control inflation in Pakistan?
How to control inflation in Pakistan?
Transcript
00:00 You must remember that when the PDM government was not formed,
00:05 and all the PDM members were in opposition,
00:08 did they claim that they are experienced people,
00:11 they know the environment very well and they will take care of it?
00:15 During the last 24-48 hours,
00:18 we have heard from the businessmen of the Pakistani military leadership
00:22 in Karachi and Lahore.
00:25 There are positive news and a clear message from the military leadership
00:29 that we have to improve the national economy.
00:32 The investment of 25 billion dollars has been talked about.
00:35 The investment will be made in the various sectors of Pakistan,
00:39 including Saudi Arabia and the UAE.
00:42 And we are also seeing that our Minister of Defence,
00:45 Anwar ul Haq Qadir, is also talking about this.
00:49 He is saying that the power we have now,
00:53 obviously the existing government had amended some laws
00:57 that could have been taken in relation to the economy of Pakistan.
01:00 The investment that is to come from abroad,
01:02 in relation to the SIFC,
01:04 so that there is no obstacle in between.
01:07 We have invited Mr. Bukhari, Mr. Farhan Bukhari,
01:10 he is an international newspaper,
01:12 he has been writing for the Financial Times,
01:14 and has been keeping an eye on the economy of Pakistan for decades.
01:17 We will ask him, he has also met with the Prime Minister,
01:20 what is going to happen,
01:22 what good news should we expect in the coming days.
01:26 Thank you Mr. Bukhari.
01:27 How was your meeting?
01:29 The meeting was good,
01:30 the atmosphere was good,
01:32 and he had invited the international media.
01:35 Now, the economic aspect that was discussed,
01:38 I will add a little bit,
01:40 what I understood was that
01:42 $25 billion is expected from Saudi Arabia,
01:44 and apart from that,
01:45 $25 billion is expected from the UAE.
01:47 Mashallah.
01:48 So this is a very big amount of $50 billion.
01:52 But the question arises,
01:54 that the current situation,
01:56 which is a crisis in the country,
01:58 especially in light of electricity,
02:00 Mr. Anwar ul Haq Qadhat told us this,
02:04 and you must have heard this from the government,
02:07 that since Pakistan has already agreed
02:11 with the IMF on a few goals,
02:16 it was a stand-by agreement,
02:19 so it is not possible to give a big relief right now.
02:26 And the reports are that
02:28 a set of proposals were shared with the IMF,
02:32 on which they expressed their concerns,
02:36 and then some other proposals were made.
02:39 Yes, a set of proposals were made.
02:41 But the thing is that it is clear
02:43 that the government cannot give a big relief right now.
02:48 The question I want to ask you is,
02:50 the government has a control mandate,
02:54 and they cannot go out of it.
02:56 If we look at the time,
02:58 the news is coming,
03:00 if not November, then December,
03:02 if not December, then the elections will be held in January.
03:04 So the government has made such a big decision,
03:09 which will have a very far-reaching result,
03:11 obviously, on the national economy,
03:13 an investment of $50 billion,
03:15 there is a blueprint, a time frame, a line of action,
03:19 what are their thoughts on that?
03:22 See, the SIFC is such a matter that has already been implemented,
03:29 and this government has only inherited one thing,
03:33 and they will pass it on to the next government,
03:35 and its framework has been made in its place.
03:38 And may God grant such a big capital on the SIFC,
03:43 because Pakistan has to pay a large foreign payment,
03:47 especially loans,
03:49 in the coming years,
03:51 very large payments will have to be paid to Pakistan,
03:53 in the next three years,
03:55 an estimate of about $76 billion has been made.
03:58 So obviously, if such a big investment comes,
04:01 then Pakistan will benefit a lot,
04:03 and it will be easier to repay the loans.
04:06 The real issue is present,
04:08 and when a question was asked to them,
04:11 that the PSTP or the development budget,
04:14 this is the budget that you have inherited,
04:17 what are some things you are ready to roll back?
04:21 Or are you going to phase?
04:23 So they replied that,
04:25 because the budget was passed under the constitution,
04:30 so we cannot change it,
04:35 which is a little strange,
04:40 but it is true,
04:42 because in the past we have seen,
04:44 supplementary budgets, mini budgets,
04:46 all these exercises…
04:48 You have to look at your situation and move on, Mr. Bukhari.
04:50 Yes, absolutely.
04:52 Yes, Mr. Chaudhary, sir, please ask questions.
04:55 Mr. Bukhari, this is a very big thing,
04:58 and the army team in Lahore and Karachi,
05:01 talked to the representatives of the big business houses,
05:07 and they have talked for many hours,
05:09 and they have been assured,
05:12 that on one hand, there is a lot of investment coming in,
05:14 from Saudi Arabia, China and the UAE,
05:18 and on the other hand,
05:20 there is a lot of smuggling,
05:22 black marketing,
05:24 and tax theft,
05:26 and they will be put on a tight leash.
05:30 So this is what people want,
05:32 and if economic activity is generated for their livelihood,
05:37 then nothing like it.
05:39 But here, the environment is set up,
05:42 that loot and be robbed,
05:44 loot and be robbed,
05:46 I don't see any way to stop this.
05:51 Is there any system in place?
05:54 Mr. Chaudhary, you have raised a very good question,
05:58 and a very good point,
06:00 and this is the question in people's minds,
06:04 that this statement has come,
06:07 that a heavy blow is going to befall,
06:10 let's see what happens,
06:11 because the corruption in Pakistan,
06:14 and this has been going on for decades,
06:18 and with time it has increased,
06:20 to stop this,
06:23 to crush this,
06:24 what will be done?
06:26 There are countries in the world,
06:28 where a very strict action has been taken,
06:31 against corruption,
06:34 and to some extent there was a difference,
06:37 but now we have to see what difference there is in Pakistan,
06:40 and especially now,
06:42 your business,
06:44 your daily business is in a bad state,
06:47 and the electricity crisis,
06:49 has made your situation even more complicated.
06:52 So all these things are not connected,
06:55 there is an English term,
06:57 that the devil is in the detail,
06:59 that we need the details,
07:01 to see where they take us further,
07:04 anyway, the goals they have set,
07:08 are very good goals,
07:12 if investment comes on such a large scale,
07:15 so it is a very good thing,
07:17 for the success of Pakistan,
07:20 for a better future,
07:22 this will be a very good news,
07:24 but apart from this,
07:26 there are many other issues,
07:28 which are connected,
07:30 you have to see them also.
07:32 Sir, the issue has been misreported,
07:35 I will explain it to you,
07:37 some people came on television yesterday,
07:40 and said that the army chief said,
07:42 that no political party is sincere with Pakistan,
07:45 so I think this has been misquoted,
07:48 by the chief army staff,
07:50 they did not say anything like this,
07:52 the people who said this,
07:54 are very much against this,
07:56 if you see,
07:58 if the chief army staff,
08:00 had wanted PDM,
08:02 and not voted against Imran Khan,
08:04 then the present army chief,
08:06 he was not supposed to be the army chief,
08:08 he had a 10 year plan,
08:10 and for that 10 year plan,
08:12 he closed the rickshaw,
08:14 with PDM and Muslim League Nawaz,
08:16 and for this,
08:18 he lost all his political knowledge,
08:21 if you see Muslim League Nawaz,
08:23 they took over the country,
08:25 in such a difficult situation,
08:27 just for this appointment,
08:29 if that 10 year plan was going on,
08:31 the country would have been defaulted,
08:33 so I think they have been misquoted,
08:35 they have not made a statement against a political party,
08:38 the statement that has been attributed to them,
08:40 some people have done it,
08:42 that is wrong,
08:44 but the thing that has been quoted,
08:46 that is correct,
08:48 the issue regarding the Afghan citizens,
08:50 the issue that they have mentioned,
08:52 the implementation of the DG Rangers,
08:54 has started,
08:56 and apart from this,
08:58 the core commander,
09:00 what is his name,
09:02 he has been told,
09:04 that the implementation has started,