Comparison of first 8 months of economics – PPP vs PMLN vs PTI
- The newly elected PTI Govt faced huge criticism on the economic end.
- Majority of the mainstream media has been bashing PTI for its economic policies.
- Opposition parties aligned with the media in bashing the ruling party.
Let’s have a comparative look at the tenure of PPP, PMLN, and PTI [first 8 months ]
The infographic clearly shows the positive indicators of the economy under the PTI Govt.
- The imports have been decreased by 6%.
- the trade deficit is down by 11 %.
- The fiscal deficit has been decreased by 22 %.
- And external debts were dropped by 37%.
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- A whopping 17% increase in the foreign direct investment [excluding CPEC ].
- Remittances increased by 11.8%
- Exports increase by 2%
- Foreign exchange reserves: 10.4 Billion USD
- Tax returns increase by 1.4 million.
Let’s take a look at the foreign remittances.
As you can clearly see in the graph, there has been a gigantic 11.8% growth in the remittances in the first 8 months of PTI Government. It shows the trust of overseas Pakistanis in the incumbent Govt.
Talking about loans:
Pakistan has to return 37 Billion dollars in the next 5 years. 9 Billion dollars need to be paid back within 2019. On top of that, 1700 Million dollars to be paid back just in terms of interest.
Guess what? Not a single penny of these loans was taken by the PTI Govt.
Foreign Exchange Reserves:
Talking about the first 8 months of government, PTI had an increase of 270 Million dollars whereas PMLN had a decrease of 3.21 Billion dollars.
The comparison of exchange rate:
Comparing the three governments, it can be clearly seen that the highest increase in the exchange rate was under the era of PPP.
The minister of finance in PMLN’s tenure, Miftah Ismail had openly accepted that Ishaq Dar was artificially controlling the exchange rate of US dollar.
Billion of dollars were taken as a loan and used just to artificially stable the Rupee against the US dollar.
The pace of external debt:
State bank of Pakistan shows the comparison of PMLN and PTI Govt’s pace of taking the external debts. It can be clearly seen how PTI Govt has lowered down the pace of taking the external loans.
The economic indicators so far are better than PMLN and PPP. The rupee was artificially strengthened against the US dollar and now it is being accepted by Miftah Ismail. You can watch his statement below:
Let us know what you think about this comparison. Leave a comment below or send your suggestions at [email protected]