Opposition protests as Ishaq Dar takes oath

The Senate administered oath Tuesday to Ishaq Dar, former finance minister and senior PMLN leader. When Sanjrani invited Dar to take oath, the PTI legislators chanted slogans and threw agenda sheets into the air. Anti-Dar placards were carried by some.

The Pakistani Election Commission also withdrew a petition filed over Dar’s failure to take oath. However, PTI legislators continued to protest despite repeated requests. Taking their seats, the security personnel moved towards them.

Speaker Azam Nazeer Tarar expressed regret at the opposition’s attitude and emphasized the need to maintain a sense of decorum and tradition. As a member of the government’s team, Ishaq Dar has taken oath as a member of this august house.

As far as the constitutional reservation about Dar’s oath is concerned, he said it may just be personal reservations and not part of the Constitution.

Ishaq dar left the country in 2018 

Dr Shahzad Waseem, leader of the opposition, regretted that Ishaq Dar left the country and was elected a senator in 2018. Lawmakers who fail to take oath within 60 days will have their seats declared vacant, he said.

Dar fled the country instead of explaining his position before the court of law despite the fact there was a system to protect some individuals.

He was taken out of the country by the then-prime minister, and now he’s back. Taking free rides for absconders must stop,” he declared. Dar took oath directly in the Senate instead of appearing before the court. Banana republics are not welcome in Pakistan.

It was suspended until October 7 by Azam Nazeer Tarar. In a case involving the past prime minister, the sitting president was acquitted. No matter what you think of someone, he said. It expired months ago, an ordinance promulgated by the PTI government.

During a debate on the economy, Shaukat Tarin criticized the PMLN’s economic policies. Despite PDM’s repeated claims, he regretted the PTI’s economic landmines. 

Even after the IMF deal struck, the rupee continued to decline. As for dollar liabilities, friendly countries will roll them over. Government’s response?””

Sen. Tarin referred to the euro and Sukuk bonds as factors contributing to the rupee’s fall. The government should have lowered POL prices, which had fallen to 80 dollars per barrel, but instead increased petroleum prices last week. A petroleum levy increase required by the IMF. 

IMF statement

According to the fund condition, the government must collect Rs855 billion. Why can’t they tell the IMF not to do this?”  When oil prices fall, we’ll reduce our prices too,” he told the IMF.

As a result of changing the NAB law and reversing the electoral reforms, PTI senator Ishaq Dar is sitting here (in the Senate), he said. They chanted shame, shame.

Political instability breeds economic instability. Only elections will solve the problem.

He blamed the fault lines of $32 billion

In 2018, when the PTI formed the government, the country suffered a current account deficit of $19 billion. He blamed the fault lines in the exchange rate and related measures for the setback of $33 billion to the economy.

He claimed that economic growth was healthy under the ex-PTI government. According to him, people had difficulty affording utility services, flour, and other necessities.

As finance minister, he criticised Ishaq Dar’s economic policies. While Dar was at the helm of the economy, exports fell to $21 billion at the end of the PPP government.

The PTI government had to swallow a bitter pill due to PMLN policies, he said. Foreign exchange reserves reached $21 billion during the PTI government, but were at $14 billion after the change of government. The current reserves are $8.4 billion.

It stood at Rs235 now, versus Rs178 in March. CPI has gone up from 12.2 percent to 27.3%, and SPI from 15 percent to 29 percent.

The day after Ishaq Dar arrived, the local unit gained Rs10 against the dollar and the country’s debt had declined by Rs1,350 billion. Depreciation of the rupee was his biggest challenge. Utility store prices were also rising rapidly due to inflation.

According to Dar, the fixed dollar rate market established in 1999.