Pak Army Chief holds business meetings without PM Imran Khan

In absence of Pakistani Prime Minister Imran Khan, Pakistan's Chief of Army Staff Qamar Javed Bajwa met top business leaders of the country on Wednesday at the Army House in Rawalpindi. The meeting was called to discuss the country's economy and to find ways to stabilise it. Bajwa asked heads of businesses on ways to fix the economy and what would possibly lead them into investing further in the country.

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The Pakistani military informed about the meeting chaired by Pak Army Chief on their official Twitter handle.

In an official statement released by the Pak Army Chief, he said, “National security is intimately linked to eco while prosperity is a function of balance in security needs & economic growth. Aim of various discussions and seminars was to bring stakeholders at one platform to formulate recommendations for a synergistic way forward.”

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Pakistan's Failing Economy

Pakistan's economy continues to remain in crisis as the economic growth rate fell by almost 50 percent from 6.2 percent to 3.3 percent. The inflation rate in Pakistan also continues to remain high at 10.75. According to recent reports, the prices of milk in Pakistan went up to reach Rs 140 per liter. A few months ago, the prices of Roti and Naan also went up to Rs 13 to Rs 15, which was later rolled back by Pakistan's cabinet. The country also has a constant fear of getting a poor rating and being blacklisted by the Financial Action Task Force (FATF). FATF released a statement for Pakistan:

“The FATF expresses concern that not only did Pakistan fail to complete its action plan items with January deadlines, it also failed to complete its action plan items due May 2019. The FATF strongly urges Pakistan to swiftly complete its action plan by October 2019 when the last set of action plan items are set to expire. Otherwise, the FATF will decide the next step at that time for insufficient progress,” it said.

The Asia-Pacific Joint Group (APJG) will analyse and submit Pakistan's report to FATF. The next FATF meeting is scheduled to happen from October 13 to October 18, in Paris.

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