Devaluation of rupee a cruel, unnecessary decision: Ishaq Dar

Former finance minister Ishaq Dar/File photo

Former finance minister Ishaq Dar has termed the devaluation of the Pakistani rupee over the past few months a “cruel and unnecessary” decision that was deliberately taken to adversely impact the government’s progress.

In a statement issued from London, where he is undergoing treatment for an unspecified heart complication, Dar said during his tenure as the finance minister the entire world was praising Pakistan’s economy.

“All [major financial institutions] had declared the Pakistani rupee as Asia’s ‘most favourite’ currency,” he lamented, pointing out that there was no real need to depreciate the currency.

Suggesting that the decision to devalue the rupee was taken to deliberately trouble the government, Dar said that “external and internal conspiracies” were joining hands against the country.

“How many [more] dollars did they manage to bring into Pakistan after the Rs 12 surge in the [US] dollar?” he questioned, adding that he was personally against the devaluation of the rupee.

The Pakistan Muslim League-Nawaz representative remarked that all political and parliamentary parties should have been taken into confidence before the decision to devalue the rupee.

‘No fake medical reports in UK’

Commenting on the Supreme Court’s summons, Ishaq Dar said he wanted to return soon but his doctors were not allowing him to travel back to Pakistan.

The apex court on Tuesday summoned Dar on May 8 and said that he would be given protective bail on his return. Chief Justice of Pakistan Saqib Nisar, during hearing of a case pertaining to the approval of the former minister’s nomination papers for the Senate elections, questioned Dar’s whereabouts and remarked that his illness could not last this long.

The Chief Justice also stated that warrants would be issued against Dar if he failed to appear before the court.

Speaking on Geo News programme ‘Aj Shahzeb Khanzada Kay Saath’, Dar said “fake medical reports” were not possible in UK. He said that he has been advised 6-8 weeks’ rest by his doctors and added that he would take a second medical opinion on April 26.

The former minister said that he has sent his medical reports dated April 4, 2018 to [the courts] today.

“I am not worried about [the case]. My name was not in Panama Papers. There is no case of corruption or kickback against me,” he said, adding that he has submitted his records dating back 34 years to the courts.