Market gets positive signal from ECP decision against PTI: Ahsan Iqbal

ISLAMABAD, Aug 3 (APP):Minister for Planning, Development, and Special Initiatives Ahsan Iqbal Wednesday said the country’s stock and foreign exchange market responded positively to the decision of prohibited funding case given by Election Commission of Pakistan (ECP) against Pakistan Tehreek-i-Insaaf (PTI).

He said the market responded positively after the announcement of the verdict against PTI on prohibited funding case, because the people know it very well that the PTI was a party known for creating anarchy.

The country’s stock market gained around 900 points on Wednesday while the exchange rate of Pakistan Rupee also strengthened by Rs 9.59 to close at Rs 228.79.

Addressing a press conference here, the minister said although other factors might also be involved in the positive development of the market, but political stability was one of the major factor and the market received positive signals.

He said during bye-elections in Punjab last month when PTI won majority seats, the market reacted negatively and rupee weakened significantly against US dollar on fears of regaining power by PTI.

He said the nation also wanted political and economic stability and prosperity.

The minister maintained that the under the leadership of Prime Minister Shahbaz Sharif, the tireless efforts of Finance Minister Miftah Ismail and his team had started yielding results now as the country’s economy had been put on the path of stability and prosperity.

When the coalition government took over the charge, Iqbal said that people were feared that Pakistan’s fate would also be similar to that of Sri Lanka, however the PML-N and all the allied parties had jointly worked to bring the country back from the brink of default where the PTI government had taken to.

He said the incumbent government was bound to obey the agreement made by the PTI government with IMF.

The minister said Imran Khan had concealed 13 accounts and now as per the ECP decision he had become a declared liar and fraudster.

Therefore, he said if Imran Khan even had a minimum level of morality, he should have resigned from the chairmanship of his party.

The minister also asked the PTI voters to positively work for the development of the country. “I request all doctors, engineers, traders, officers, investors, journalists, and people from all walks of life to put extraordinary efforts to bring the country out of crisis”, he said adding that we want to make our country totally independent of the IMF, therefore people from all walks of life should shun all their differences and support the government in this regard.

To a question, Ahsan Iqbal said the government would complete the tenure next general elections would be held on time.

He said the process of population and housing census had been started which would be completed by February 2023 and the ECP would require 3-4 more months to complete the process of delimitation. Furthermore, he said the economic situation of the country also would not afford the early elections as the country needs political stability.

The minister also paid tributes to the officers of Pak Army who were martyred in a helicopter crash in Balochistan.