Sunday Jan 06, 2019
ISLAMABAD: Dr Farrukh Saleem, who was supposed to be appointed as the government’s spokesperson on economy in October 2018, revealed that economic adviser Abdul Razak Dawood facilitated a meeting between Prime Minister Imran Khan and Gezhouba company representatives during the premier's recent visit to China.
The joint venture of Descon owned by Adviser to PM on Commerce, Textile, Industry and Investment Abdul Razak Dawood and Chinese company, China Gezhouba, won the bid for the construction of the Rs309 billion Mohmand Dam in Pakistan.
Dr Saleem, who was speaking on Geo Parliament, said that the premier did not meet any other private company representatives on his visit.
"Getting important contracts while being in government is a classic case of clash of interests. The profits are also a form of corruption. It appears that the government has good intentions but lacks planning," said Dr Saleem.
He said that the $1bn given by Saudi Arabia was spent within 16 days.
"How long will the country be run on loans? There are interests not friendships between the states, we should know that there are no free lunches," he said.
Dr Saleem said that Pakistan received loan on 2.8 percent interest rate from the UAE, and on 3 percent from Saudi Arabia. He warned that unlike in previous tenure, the circular debt is rapidly increasing hence raising uncertainty which is detrimental for businesses.
"We didn't get the desired result by devaluing the rupee. The inflation has increased twofold. The former finance minister in order to stabilise the rupee threw $9bn in the market," he added.