*ISLAMABAD: Former finance minister Shaukat Tarin has said that politicalinstability causing economic turmoil in the country. *
Tarin while commenting on free fall of rupee against dollar, said that theState Bank of Pakistan has refused to give dollars, currently the currencyhas been trading at Rs 227 in interbank market.
“Despite Miftah Ismail’s claims the market not showing trust on him,”Shaukat Tarin said. “Devaluation of rupee will result in price hike,” headded. The market is jittery and required restoration of confidence so asthe situation returns to normal, he said. “The people have to pay the debtthey have taken,” former finance minister said.
“Political instability resulting in economic turmoil, stocks are falling,while the dollar is gaining more strength,” Tarin said.
“Only solution of the situation is announcement of the election, so as themarket feels the confidence that we are moving towards politicalstability,” he said.
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After Punjab by-election results former minister had urged the governmentto announce election and bring a strong caretaker setup in the countryadding that the election results have increased political instability inthe country.
He called for a strong interim government having understanding of themarket, “We have to move forward to end the political instability foreconomic betterment of the country,” he said.
