Photonews Logo Photonews logo
  • Home
  • Pakistan
    • Punjab
    • Sindh
    • Khyber Pakhtunkhwa
    • Azad Jammu Kashmir
    • Balochistan
    • Gilgit – Baltistan
  • World
  • Business
  • Entertainment
  • Videos
    Good Fortune trailer
    Videos

    First Trailer for Aziz Ansari’s Good Fortune, Starring Keanu Reeves

    May 29, 2025 2 Min Read
    Last of Us Season 2
    Videos

    ‘The Last of Us’ Season 2 Premieres Date What to Expect From HBO’s Hit Series

    April 13, 2025 2 Min Read
    Disney Snow White box office
    Videos

    Snow White Teaser Drops: Gal Gadot and Rachel Zegler Shine

    February 22, 2025 1 Min Read
  • Sports
  • Technology
  • Offbeat
  • Blog
  • Contact
Reading: Dar meets adversary to bridge trust deficit
PhotoNews Pakistan PhotoNews Pakistan
Font ResizerAa
Search
  • Home
  • Pakistan
    • Punjab
    • Sindh
    • Khyber Pakhtunkhwa
    • Balochistan
    • Azad Jammu Kashmir
    • Gilgit – Baltistan
  • World
  • Business
  • Entertainment
  • Videos
  • Sports
  • Technology
  • Offbeat
  • Blog
  • Contact
Have an existing account? Sign In
Follow US
© 2022 Photonews. All Rights Reserved.
PhotoNews Pakistan > Business > Dar meets adversary to bridge trust deficit
Business

Dar meets adversary to bridge trust deficit

Web Desk
By Web Desk Published September 22, 2015 4 Min Read
Share
SHARE
After being severely criticised for manipulation of figures to show a good health of economy, Finance Minister Ishaq Dar met his adversary, former finance minister Dr Hafiz Pasha, to mend fences.

Both had a luncheon meeting last week to bridge the trust deficit, said sources in the Ministry of Finance. Pasha also confirmed that he met the finance minister on his request.

This marked a shift in Dar’s approach in dealings with his former senior party colleague. They had both served in the 1997 cabinet of Prime Minister Nawaz Sharif.

Dar has never hidden his differences with Pasha, who is considered one of the top economists and has earned international recognition. The minister publicly called Pasha a “pseudo-intellectual” when the latter challenged his policies on the currency exchange rate and budget deficit control.

After the meeting, officials from the Ministry of Finance, Federal Board of Revenue and Pakistan Bureau of Statistics (PBS) also met Pasha, sources said.

The government has come in for a lot of criticism following claims of early economic recovery, which was not supported by data gathered by independent economists.

The trio of Pasha, who heads the Institute for Policy Reforms (IPR), former State Bank of Pakistan governor Shahid Kardar and former economic adviser to the Ministry of Finance Dr Ashfaque Hasan Khan has exposed the alleged manipulation of statistics.

This also compelled the International Monetary Fund (IMF) to revalidate the numbers of last fiscal year. The talk of figure fudging has also undermined the lender’s credibility that has been giving certificates of good economic health every quarter.

Pasha had challenged the government’s claim of achieving over 4% gross domestic product (GDP) growth in fiscal years 2013-14 and 2014-15, proving with statistics that actual growth each year was not more than 3.5%.

Similarly, he along with independent economists confronted the claim of reduction in budget deficit to 5.3% of GDP in the last fiscal year. They said actual deficit, excluding circular debt, stood at 6.4%.

In an article published in the London-based Financial Times, Pasha stated, “In our close to 70-year history, we’ve never had a government that fudged statistics to the extent of this one.”

Sources in the Ministry of Finance claimed that Pasha accepted the government’s position on fiscal deficit and GDP growth.

However, he denied that he accepted the government’s explanation. “My views on budget deficit and GDP growth are unchanged as I have not been given any satisfactory explanation,” he said .

Pasha said the government team also could not explain the reasons behind a huge statistical discrepancy of Rs177 billion. They could also not give satisfactory answers to booking the Rs102 billion privatisation proceeds of Habib Bank Limited as non-tax revenues. Historically, the proceeds are treated as a financing item.

According to Pasha, the only understating with the government was that in future his think tank, the IPR, would coordinate with the Ministry of Finance and the PBS.

He denied that Dar had asked him to join the government. “I have played my innings and will not join the government in any position,” he remarked.

Dar is considered the most active cabinet minister who is not only doing his job but is also assisting the prime minister in political and foreign affairs. To lessen his workload, the premier has appointed two assistants – Haroon Akhtar Khan as special assistant to the prime minister on revenue and Barrister Zafarullah Khan as special assistant to the PM on economic affairs.

Also read:Govt not to compromise on Karachi operation: Dar

 

TAGGED:Nawaz Sharif
Share This Article
Facebook Twitter Pinterest Whatsapp Whatsapp LinkedIn Email Copy Link Print
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recent Posts

J-35 stealth jet Pakistan

Chinese Defense Stocks Surge as Pakistan Confirms J-35 Stealth Jet Purchase

Pakistan Heatwave 2025: Sindh, Punjab, Balochistan Hit by High Temperatures

Pakistan Heatwave Alert: Temperatures Soar 5–7°C Above Normal Until June 12

Viral video 8 year child shopping China

Viral Video: 8-Year-Old’s Solo Shopping Trip in China Wins Hearts Online

Karpil Sharma Season 3

Navjot Singh Sidhu Rejoins Kapil Sharma for Great Indian Kapil Show Season 3

crypto market bitcoin ethereum june 2025

Crypto Market : Bitcoin at $105K, Ethereum Dips Amid Trump-Musk Feud

Post Archives

More Popular from Photonews

Summer Game Fest 2025
Tech

Summer Game Fest 2025 Delivers Major Game Reveals, Xbox Showcase Looms

3 Min Read
Punjab solar panel guidelines 2025
Punjab

Punjab Issues Solar Panel Installation Guidelines Amid Net Metering Cuts

3 Min Read
Karachi earthquakes 2025
Sindh

Karachi Faces 32 Mild Earthquakes Since June 1, PMD Links to Landhi Fault Line

2 Min Read
Sports

Portugal Wins 2025 UEFA Nations League, Defeats Spain in Penalty Shootout

On June 8, 2025, Portugal secured their second UEFA Nations League title, defeating Spain 5-3 in…

June 9, 2025
World

Iran Claims to Unveil Sensitive Israeli Documents

On June 8, 2025, Iran’s Minister of Intelligence Esmail Khatib announced that Tehran obtained a vast…

June 9, 2025
Sports

Carlos Alcaraz Reaches French Open Final 2025 After Musetti Retires

On June 6, 2025, defending champion Carlos Alcaraz advanced to his second consecutive French Open final…

June 6, 2025
Top NewsWorld

Ukraine and Russia Agree on Historic Prisoner Swap and Body Repatriation

On June 2, 2025, Ukraine and Russia finalised their largest prisoner of war exchange and body…

June 3, 2025
PhotoNews Pakistan

Always Stay Up to Date

Subscribe to our newsletter to get our newest articles instantly!

Categories

  • World
  • Pakistan
  • Punjab
  • Sindh
  • Khyber Pakhtunkhwa
  • Balochistan
  • Azad Jammu Kashmir

 

  • Top News
  • Business
  • Entertainment
  • Sports
  • Videos
  • Tech
  • Offbeat
  • Blog

© 2024 Phototnews
All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?