Due to fast and modern means of information, speculations spread across the country within no time. During last 48 hours a number of speculations surfaced on social media which were of the great importance. One of them was that someone having power and authorities have slapped the sitting Prime Minister. Other was that Pakistan is going to default soon. And third one was regarding the chances of oil shortage in the country.
The intensity of these speculations was very high. The more important thing regarding speculations was that they were regarding the very important and sensitive matters. For instance, the speculation regarding slap at the face of sitting PM was directly indicating something wrong in the relationship between the government and military rulers. As there is a deadlock like situation in the country on the appointment of new Army Chief, so such a speculation was quite enough to change the whole scenario. However, the speculation could not be survived long time and vanished away within few hours.
The other speculation was also of great importance as it was basically a threatening situation that the country is going to default soon. But, the government considered the importance of this speculation soon and came on front foot to deal with the situation. Federal Minister for Finance and Revenue Ishaq Dar Saturday rejected all speculations surrounding oil shortage and widening credit default swap, terming them “baseless rumours being spread on political goals”. Addressing a press conference via video link, the finance minister asserted that Pakistan will “absolutely not” default on its debt obligations. Country’s next big payment — $1 billion in international bonds is due in December, and Dar assured the people that payment would be met on time. “We have never defaulted before. We will not even be close to default … Let me clear this categorically that the bond will be paid and there is no delay in this and even arrangements have been made in principal for upcoming payments in the next year,” he reiterated. Commenting on the third issue which has become a cause of concern, the finance minister said that Pakistan has enough fuel reserves to meet the local demand. “There is nothing like this. The reserves are present at the level they should be and there is no need for worry,” Dar clarified. Earlier in the week, the Oil and Regulatory Authority (OGRA) in a brief statement issued — had revealed that the country has petrol and high-speed diesel reserves which are sufficient for 22 days and 19 days, respectively. The regulatory authority further said that this stock is in addition to imports, and local refinery production demands, rejecting all news surrounding the oil crisis and depleting reserves.
No one can deny the fact that Pakistan is currently going through tough situation. The appointment of new Army Chief is scheduled this month. At the same time former PM and Chairman Pakistan Tehreek-e-Insaf (PTI) Imran Khan has given the date for reaching Rawalpindi. The current instable political environment in the country is further fueling the issues. Economy is going down due to such situation. The overall instable political environment is basically responsible for the hype of speculations. However, people should take great care while sharing any content on their social media accounts. The speculations should not be allowed to get so much strength that they come in position to pose any serious threats.