ISLAMABAD: President Pakistan Muslim League-Nawaz (PML-N) and National Assembly (NA) Opposition Shehbaz Sharif said the Pakistan Stock Exchange (PSX) crashed on Thursday due to the government’s “catastrophic economic policy and the steps it had taken”.
Read more: PSX plunges over 1,900 points at midday
In a statement yesterday, Shehbaz pointed out that a bloodbath at the PSX had exposed Pakistan Tehreek-e-Insaf (PTI)’s “fake claims of economic stability” in the country.
The PSX witnessed massive selling pressure on Thursday as the benchmark KSE-100 index shed more than 2,000 points.
“The fall of 2000 points [at the KSE-100] was a sign of investors’ distrust in the economic policies of this incapable, incompetent and corrupt government,” said the PML-N leader, and added that “Imran Niazi is responsible for sinking billions of rupees of investors.”
The NA Opposition Leader also warned that “trade deficit and the increase in interest rates would drag the dagger deeper into the heart of the already butchered economy.”
He said that the PSX crash was the consequence of the historical burden of foreign debt and the constant depreciation of the rupee.
Shehbaz reiterated, “If the country was not saved from this corrupt, incapable and incompetent government immediately, it will be too late to save Pakistan.”
Read more: Shehbaz rejects mini-budget, promises to not let it passed from parliament
He stressed that Pakistan needed to be rescued from “PTI’s catastrophic rule because it has become a question of national security now.”
