Politics: (PPP terms Euro Bonds Disaster for Pakistan)

ISLAMABAD: Pakistan People’s Party (PPP) has slammed the issuance of Euro Bonds at the highest ever interest rates and decided to submit an adjournment motion in the Senate of Pakistan.

In a statement, PPP senator, chairman standing committee on Finance and Revenue Senator Saleem Mandviwalla has termed the issuance of Euro Bonds by Pakistan as a disaster for economy and said that the matter of Euro Bonds will be discussed in the upper house and senate finance committee to know the reasons behind this.

He further criticized the economic policies of the incumbent government noting how consumers had been laden with high indirect and withholding taxes which had crushed their purchasing power.

He also questioned that who will pay the 2.5 billion dollars in next ten years; ultimately people of Pakistan will suffer to reduce the burden of present government. He demanded to review the policy of borrowing from international market.