HomeTechnologyExchange rate manipulation hurts economy, says Hamad Azhar

Exchange rate manipulation hurts economy, says Hamad Azhar

Exchange rate manipulation hurts economy, says Hamad Azhar

Exchange rate manipulation hurts economy, says Hamad Azhar

ISLAMABAD: Federal Minister for Energy Hamad Azhar has said that the whole world appreciates Pakistan’s initiatives on FATF. Exchange rate manipulation hurt the economy.

He told a news conference on Saturday that the new bill would rid the SBP of politics, adding that the government would have the power to remove the Governor SBP and others.

Hamad Azhar said that Pervez Khattak had spoken of not getting gas in his constituency and demanded new gas connections. I did not have any conversation with Pervez Khattak. He is our elder. We are a democratic party. Everyone has the right to speak.

He said that democratic traditions are also seen in our cabinet, Imran Khan’s cabinet is the most criticized.

He said the government would have the power to remove the governor, SBP and others. He further said that PML-N had installed expensive power plants, had paid attention to local coal and dams in the past, would not have faced fuel adjustment. Fuel adjustment bills are due to global fuel.

The energy minister said that Rs 6,000 billion would be collected in taxes and GDP growth would be up to 5 percent. Inclusion of LNG in local gas will make 15% gas more expensive. Demand for urea fertilizer has increased.

Hamad Azhar said that the gas produced by Sindh is half substandard and the talk of supplying gas to Sindh is not serious. There is no problem of gas supply in Khyber Pakhtunkhwa.

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