Malik said that holding the current government responsible for the economic crisis would be unfair, adding that, this is the worst financial crunch in the nation's history. PHOTO: EXPRESS/FILE
LAHORE: Pakistan People's Party (PPP) Senator Rehman Malik on Sunday penned a letter to Prime Minister Imran Khan outlining ways to steer the country clear of impending economic disaster.
Malik said that holding the current government responsible for the economic crisis would be unfair, adding that, this is the worst financial crunch in the nation's history.
The letter states that instead of pointing fingers at each other, the need of the hour is for the nation to join hands to find a solution.
Interestingly the letter comes to fore the same day his party’s co-chairman Asif Ali Zardari came down hard on the government, claiming it would fail to complete its tenure as it was not fit to run the country.
Addressing the media in Islamabad, he said the Pakistan Tehreek-e-Insaf (PTI) government’s incompetence would not remain hidden for very long. Zardari added that all parties must come together to pass a resolution that the government is unable to run the affairs of the country properly.
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Malik said that a robust strategy must be devised to tackle the problem.
The senator called for the formation of a national consortium of Pakistani banks which would share one-fourth of the foreign debts with flexible conditions in place.
Malik said that after taking the parliament into confidence, half of the foreign loans should be sold to China.
He added that the deal with Beijing should be based on easy installments and if possible, without any interest.
The PPP leader said that the deal with China should include no payment from Islamabad for the first five years, as the ally has written off loans for other countries on before as well.
The letter goes on to state that mega commercial plots in big cities should be offered to overseas Pakistanis in order to draw foreign investment.
He also called for a bank to be established for overseas Pakistanis in partnership, offering 80 per cent of shares to them.
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