ISLAMABAD, Jun 2 (APP):Pakistan Tehreek-e-Insaf (PTI) Vice President, Fehmida Kausar Jamali on Wednesday said Pakistan stood second highest GDP growth of 4 per cent in South Asian Association for Regional Co-operation (SAARC) region for the year of 2020-21, compared to India’s -7.3 per cent GDP, Nepal -0.13, Srilanka -3.6 percent.
Bangladesh stood first with the highest ratio of 6.1 percent in the region.
Talking to media, she said it was possible due to consistent efforts and effective strategy of the incumbent government under the leadership of Prime Minister Imran Khan.
The strategy of the Prime Minister from the day 1st after COVID-19 hit globally, that lock down was not a solution, adding, the only option for us was to deal with the COVID through implementation of Standard Operating Procedures.
Fehmida Jamali further said the government would go all-out against different cartels and mafias to provide immediate relief to masses.
The United States Dollar has been devalued by a significant Rs 17 during last eight months; but there was no tangible impact on the price indices in Pakistan, she said.
PTI leader has criticized and called out the attitude of various local and multinational companies, who at the time of devaluation of Pak rupee by even one rupee against US dollar invariably resort to increase in the prices of their products.
Counter intuitively, now they were not inclined to reduce their prices even by a single rupee. She said exchange rate in Pakistan on June 1st was around Rs 152 against dollar; while in August 2020 it was recorded at highest rate of of Rs.168.87.
After this escalation, all import-oriented companies had increased their prices; specially the pharmaceutical and automobile sectors.
However, now when dollar is almost 17 rupees down, there was no reduction in prices seen; while those prices must have come down considerably by now ranging from 20 to 25 percent, she commented.
She urged the price control and regulatory authorities of pharmaceutical and automobile sectors to take cognizance of the situation and bring down the prices of the essential medicines at the earliest.
She said they had fixed the gas and electricity rates for the textile industry till June, and it was likely power division may extended the same to facilitate exports.
The Pakistan Tehreek e Insaaf leader also urged the State Bank of Pakistan to direct private banks to expedite the credit facility to the business community of Balochistan to promote industrialisation in the province; as Balochistan has huge potential and if availability of credit has been given to local traders they could witness the economic growth.