Imran Khan, a former prime minister and head of the PTI, claimed that the current administration was damaging the nation’s economy and that the economy was “on the verge of default amid mounting default risk.”
“Given the increased default risk, foreign investors will be apprehensive of making investments in Pakistan… I question those who devised conspiracy: who is to blame for this mess?
On Tuesday, he addressed a PTI long march over a video hookup.
Imran cautions that only early elections can save the impending economic disaster.
The five-year currency default swap (CDS) index, used to quantify Pakistan’s risk of default, surged 4.2 percentage points to a new high of 64.2%, signalling that the nation lacked the means to cover the rising import payments and foreign debt repayments on schedule.
Pakistan is expected to pay back $1 billion in relation to a five-year Sukuk (a bond that complies with Shariah) that would mature on December 5, 2022.
According to the current administration, “the country may be unable to pay off its external debts.”
Imran said that inflation has doubled since the PML-N-led coalition government took office and that all economic indices, such as exports, remittances, and tax collections, are falling.
Imran said, citing the Pakistan Economic Survey, that the economy experienced unprecedented development under his nearly four-year presidency.
He continued by claiming that the economy began to deteriorate after the country’s current authorities were “forced” on it through “conspiracy”.
The PTI chief reiterated his call for early elections and claimed that there was no other option to help the nation out of its current predicament.
“As exports and remittances have decreased, our income has decreased. We need to find a way to make money to pay off our debts. Elections are the only way to resolve this situation.
Imran claimed that in the event of default, Pakistan will be required to give up its “most vital national security aspect” in order to receive a bailout from foreign nations.
There is no free lunch, as they say in America.
The PTI leader claimed that the “law of the jungle” and lack of rule of law in society are the core causes of all problems. “Until our judicial system is strengthened, we can never succeed.”
In three historic incidents, including the murder of journalist Arshad Sharif, the alleged torture of PTI Senator Azam Swati over a critical tweet, and the aborted assassination attempt on the PTI leader’s life, he also asked Chief Justice Umar Ata Bandial to ensure justice. Police officers refused to file a FIR because they were under pressure from “extremely influential” individuals.
Sikander Sultan Raja, the Chief Election Commissioner (CEC), has once more been called a “henchman” of the PML-N, according to the PTI chairman.
The ousted premier further criticised the leader of the PML-N for making crucial choices for the nation while seated in London. “How can a convicted felon and fugitive make crucial decisions, especially the most crucial choice affecting our national security?”
He acknowledged that the new army chief will be chosen by Shehbaz Sharif in accordance with the constitution, but added that Sharif lacked the “moral authority” to make such a crucial decision “on the whims of his brother” Nawaz.
He continued, “Nawaz does not want elections because he knows he would lose.
