Webdesk: PTI senior leader Asad Umar surprised by former FBR chief Shabbar Zaidi’s allegation that the country’s economy would have crashed if Imran Khan had completed his term.
In 2019, the then-PTI-led regime nominated Zaidi as the top tax collector. Zaidi fired in April 2020 after taking an indefinite medical vacation.
“Had this [PTI] government continued, the party would not have even secured 5% votes as the country would have economically collapsed,” the former FBR chairman said.
The April 2022 vote of no-confidence ousted the PTI-led government.
The tax collection authority’s former chief counselled Khan to “settle things, but he was not in the mood of listening [to anyone]”.
Moreover, Zaidi alleged that Khan fired Asad Umar as finance minister after he pointed out Pakistan’s economic woes under PTI.
Umar asked, “Hello Shabbar bhai, where did this story come from?”
While, He said the PTI administration formed in August 2018 and that the SBP’s foreign exchange reserves were $9.8 billion at the end of its term.
In April 2019, Umar left the finance ministry with $8.7 billion in SBP reserves. “Where did the default story come?”
The former financial czar stated the Pakistan Democratic Movement (PDM)-led administration reduced central bank currency reserves to less than $3 billion and did not default on debt repayments. “[…] how could [the country] default with $8.7 billion?” he wondered.
