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Incompetent and corrupt #PTI govt while accommodating offshore companies’ mafia shareholders also catered vested interests of others, as below, by amending #PMLN’s introduced Companies Act 2017 through PTI’s Ordinance 2020:

1. Criminal proceedings involving imprisonment for...
...person either making false, incorrect statement in any material particular or otherwise omitting any material fact knowing it to be material has been changed to imposing a mere penalty in rupees;

2. Power of the Government to nominate chief executive officer of a Govt...
...Holding Company has been removed (Ref: Section 186(4) & 187(4) of Companies Act, 2017);

3. Disqualification of a Director in case of plea bargain with NAB has been removed in sheer disregard to curbing corruption from Pakistan (Ref: Section 172 of Companies Act, 2017);...
...
4. Requirement of security clearance of office bearers, shareholders and directors have been removed (Ref: Section 461 of Companies Act, 2017);

5. Requirement to deposit the unclaimed amount with respect to unclaimed shares, modaraba certificates and dividends with the...
...Federal Govt (approx Rs.18B) has been removed to benefit illegally certain business houses, which are illegally misusing this amount (Ref: Section 244 of Companies Act, 2017);and

6. Quota for persons with disabilities has been removed (Ref: Section 459 of Companies Act).5/5
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Ishaq Dar
@MIshaqDar50
. @SaleemKhanSafi, @Hammad_Azhar is an innocent member of the Imran Niazi’s economic team, having little idea of how the economy works. Tabdeeli Sarkar has interned a growing economy into ICU from day one, bringing down the Growth from 5.5% to 2.4% by administering doses... 1/4
...of (1) 40% devaluation; (2)doubling interest(Policy) rate to 13.25%; (3)imposing new taxes of Rs750B (which was lied on the floor of the House by @Hammad_Azhar as Rs500B & for which he was promoted as full minister); (4)highest ever fiscal deficit of 8.9%GDP; (5)first... 2/4
...time ever SBP’s hundreds of Billions rupees annual Profit converted to Loss; (6)sharpest increase in a decade of Inflation from 4% to 14.6%, with Food Inflation rising from 1.6% to 23.8.%. After wrecking people’s lives they are asking let the patient stabilize before it... 3/4
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Ishaq Dar
@MIshaqDar50
.@PakPMO,it is amazing how brazenly facts are distorted by Imran Niazi.There have been periods of much higher current deficits in country’s history like in 2007-08 when it was 8% of GDP.The alibi that PTI inherited a shattered economy is nothing but a broken gramophone record 1/8
...which the nation is long fed-up of listening.

The GDP growth of 5.8% achieved by PMLN govt has been termed as artificial based on imports. After callously bringing down growth to 3.3% in first year and projected to be 2.4% in current year, the PTI is acting like the 2/8
...proverbial Fox who, after she failed to plucked them, called the grapes sour. They are parading the massive reduction in imports as their achievement being ignorant of the havoc they have wrecked on domestic production (down 6% in Jul-Nov 2019 besides 3.64% in last fiscal 3/8
Read 8 tweets
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Ishaq Dar
@MIshaqDar50
Mr.@AtifRMian should know that running an economy &taking policy decisions is not like teaching in class room or writing theoretical research papers.There was nothing ‘mythical’ in our Exchange Rate Policy that we designed within the context of a tough IMF EFF-program which...1/9
...we negotiated within 4weeks of assuming office&completed over 3years with 12 quarterly reviews, the ONLY successfully completed program in Pakistan‘s history.

We started the program in Jul2013 with a NEGATIVE net international reserves (NIR)of $2.4B and at End-Sep2016...2/9
...NIR reached POSITIVE $7.6B. Notwithstanding some misplaced concerns on real exchange rate parity, we kept accumulating reserves while maintaining exchange rate stability, a desirable objective for a country in need of foreign resources to augment domestic resources for...3/9
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