PTI Slams Government Over Economic Policies and Legitimacy Concerns
In a strong statement, Pakistan Tehreek-e-Insaf (PTI) Central Information Secretary Sheikh Waqas Akram has accused the current regime of sacrificing the economic well-being of 250 million Pakistanis to conceal its lack of constitutional legitimacy. He made these remarks on Saturday, highlighting that while global attention is focused on peace efforts in the Middle East and Pakistan's role, the government's economic mismanagement remains a stark evidence of its illegitimacy.
Criticism of Energy Policies and Load Shedding
Waqas Akram questioned the government's contradictory stance on energy, noting that while on- and off-grid solar adoption helped avert a deeper load shedding crisis, citizens are now being penalized through a regressive net metering policy. He asked whether the government would revisit this policy, stop passing the costs of flawed planning and unfavorable IPP contracts onto consumers, and shoulder part of the capacity payments to align electricity prices with regional benchmarks.
With summer demand rising beyond 30,000 megawatts, he expressed concerns about the lack of a credible plan, warning the public to brace for another season of excuses, inflated bills, and prolonged outages. He dismissed official claims of eased load shedding due to increased dam releases, questioning if such measures align with agricultural needs or are merely panic responses to power shortages.
Fuel Pricing and Economic Management
On fuel pricing, PTI CIS criticized the government's approach as a wag the dog strategy, citing abrupt price hikes, windfalls to oil marketing companies, and selective freezes. He noted that petroleum levy collections exceeded Rs 1,500 billion over the year, including Rs 180 billion in the last six weeks, underscoring how petroleum products are used as a tax cash cow due to failures in broadening the tax base.
External Financing and Investor Confidence
Commenting on external financing, Waqas said that the release of an IMF tranche, rollover of a $3 billion Saudi deposit, and tentative re-entry into international bond markets are portrayed as recovery but highlight continued dependence on external support. He expressed concern over the closure of operations by AkzoNobel and a 27 percent year-on-year decline in investment, contradicting official claims of improving investor confidence.
Governance Failures and Health Concerns
He cited findings from the Senate standing committee that state-owned enterprises, regulators, and autonomous bodies parked around Rs 1,000 billion in commercial bank accounts instead of transferring funds to the Federal Consolidated Fund, terming this autopilot economics that exposes deep governance failures. Additionally, he expressed grave concern over reports regarding the health of Bushra Bibi, wife of PTI founder Imran Khan, demanding her immediate transfer to Shifa International Hospital for medical treatment.
Call for Resignation and Elections
Waqas reiterated that governance without legitimacy results in economic drift, policy chaos, and public hardship. He urged immediate corrective steps and demanded that the government resign to pull the country out of the economic quagmire and pave the way for free and fair elections.
