PDM leader says general elections to be delayed if economy not recovered

Islamabad: Pakistan Democratic Movement (PDM) spokesperson Hafiz Hamdullah warned that he next general elections would be delayed if the country’s economy failed to recover.

The latest reports said that the PDM spokesperson lashed out at the PTI, stating that it left the government and led the country financially to a difficult situation.

“PTI was forcefully imposed,” said Hafiz Hamdullah.

Earlier in the day, PML-N leader and Former Prime Minister Shahid Khaqan Abbasi has urged the need of political stability to put the country on the path of progress and prosperity.

He said this while talking to Journalists at Press Club along with former Finance Minister Miftah Ismail in Quetta on Sunday.

Shahid Khaqan Abbasi added that constitution of Pakistan has the solution to overcome all problems.

On this occasion, former Finance Minister Miftah Ismail said we have to focus to uplift agriculture sector in the country.

The reaction came at the moment when a period of a less than a year has been left from the next general elections.  Punjab and KPK assemblies have been dissolved. The ECP has nominated Mohsin Naqvi as caretaker chief minister in Punjab while Azam Khan has taken oath as KPK Caretaker CM.

According to the media reports,  the country is making efforts to boost its foreign exchange reserves, held by the State Bank of Pakistan (SBP,  which currently stand at $4.601 billion, just enough to pay for just four weeks of imports.

SBP-held forex reserves have plunged to the lowest level since February 2014 after a decline of 22.11%.

Pakistan is in dire need of foreign aid to reduce its current account deficit as well as ensure enough reserves to pay its debt obligations for the ongoing financial year.

Pakistan's economy has crumbled alongside a simmering political crisis, with the rupee plummeting and inflation at decades-high levels, but devastating floods and a global energy crisis have piled on further pressure.

The reserves, which hit their lowest level since February 2014, would now only provide import cover worth 0.82 months, as the country tries to lessen imports amid a greenback shortage, said the reports.