India made economic success after adopting my policies, claims Nawaz Sharif
Nawaz Sharif, the leader of the Pakistan Muslim League-Nawaz (PML-N), asserted that India achieved economic development by adopting PML-N's policies during his tenure as Pakistan's prime minister. Speaking at the Lahore Chamber of Commerce and Industry, he expressed pride in the economic performance under his leadership, emphasizing the positive impact of the policies on the national treasury.
According to Sharif, the implementation of these policies resulted in a significant improvement in the economic landscape, suggesting that if the trajectory had continued, the exchange rate would have seen the dollar equivalent to Rs40 or Rs50.
However, concerns have been raised by economic experts, particularly regarding former finance minister Ishaq Dar's claims about the sustainability and long-term viability of PML-N's economic strategies.
Dar, too, faced criticism for his handling of the rupee value and stock market, with experts questioning the soundness of his decisions.
In June, Dar alleged that the International Monetary Fund (IMF) wanted Pakistan to follow the path of Sri Lanka, which had faced a foreign debt default the previous year. However, he did not disclose a contingency plan, referred to as 'Plan B,' in case negotiations with the IMF failed.
The former finance minister further drew criticism for his negotiation tactics with the IMF, asserting that the organization could not dictate terms to him. Despite Dar's predictions, the dollar did not decrease below Rs200, leading to skepticism about the realism of his economic assessments.
Sharif defended the policies implemented in the 1990s, claiming that they received endorsement from various chambers and the business community. He contended that these policies were not only suitable for Pakistan but also mirrored the approaches adopted by many developed nations.
Sharif accused certain developed countries of imposing "double standards" by urging Pakistan to follow a similar path while simultaneously endorsing similar policies themselves.