PTI holds Pakistan Army's SIFC responsible for "economic turmoil"

Imran Khan-founded Pakistan Tehreek-e-Tehreek-e-Insaf (PTI) has launched a fresh spate of criticism against the country's military, terming it responsible for "economic turmoil" in the cash-strapped country.

Pakistan set up the SIFC, a hybrid civil-military forum, in June last year to attract international investment, particularly from Gulf countries, in its key economic sectors. 

A day earlier, the National Accounts Committee (NAC) published the figures showing that Pakistan’s investment ratio has reduced to its lowest level in 50 years.

The South Asian country managed to gain a 13.1 percent investment-to-GDP ratio against the target of 15.1%.

The last time the investment-to-GDP ratio was this low was in the fiscal year 1973-74, when it was recorded at 13.2%.

Reacting to the development, the former ruling party slammed the creation of SIFC and termed it "unconstitutional".

x.com

سرمایہ کاری میں اضافے کے نام پر غیر آئینی SIFC بنا کر ، سرمایہ کاری کی شرح 50 سال کی کم ترین سطح پر لانے کے سنگین دھوکے پر کب معافی مانگی جائے گی قوم سے؟ pic.twitter.com/Kob3x5ThdE

— PTI (@PTIofficial) May 24, 2024

In another post, Imran Khan's party, without mentioning anyone, asked to apologise for destroying the country's economy.

x.com

ملکی معیشت کو تباہی کے گھاٹ اتارنے والے قوم سے کب معافی مانگیں گے ؟ pic.twitter.com/aMkn16aH6M

— PTI (@PTIofficial) May 24, 2024

Contrary to the claims, the Pakistan Army-backed SIFC had secured several national and international investments to boost the country's economy.

In January, the investment body had inked an agreement with the then-caretaker Sindh government to start the 'Green Pakistan initiative' for corporate farming on 52,000 acres of land in six districts of the province.

Later in March, SIFS had signed an agreement with Saudi Arabia’s Najd Gateway Holding Company to “cultivate 5,000 acres of alfalfa cattle fodder”.

The civil-military forum also started a 'real estate project' on Karachi Port Trust's 129-acre land in the metropolis.