Minister of Finance Miftah Ismail on Thursday said government knew of in financial difficulties faced through people due to record inflation when he defended need make it difficult decisions”to stabilize economy.
At a press conference, together with Minister of Information Marrium Aurangzeb, the financial minister claimed that government will be able to control the economic situation for three months.
minister said stock market was in green while exchange rate was also on the way to stability in the face of impending arrival of foreign exchange reserves from China. He added that China has agreed to provide $2.3 billion to Pakistan, which is likely arrive Tomorrow is Friday).
He added what former prime minister Imran Khan broke the agreement with International Monetary Fund (IMF), resulting in in countries current economic difficulties.
According to Miftah, the negotiations with IMF regarding revival of fund fund slowly forward and he said government made difficult decision rise prices of petroleum products as it was necessary to save Pakistan from bankruptcy.
Read Pakistan to default if subsidies aren’t lifted by July: Myftah
Myth named budget for forthcoming financial year “historical” and said that government didn’t put more cargo on poorer segments of society and instead taxed the wealthy to earn additional income. “Previous government taxes levied on poor people,” he added.
Finance MinisterPrime Minister Shehbaz Sharif reduced prices of flour, ghee and sugar, while Imran could not even control price of sugar during his four-year possession. “Charity organizations pay the bills for free canteens (langar khana) [open during Imran’s government],” he added.
minister further said that relief announced prime minister in commemoration of increase in fuel prices will benefit 80 million people.
During the press conference of Mift also whipped out at Imran Khan for leaving the country on edge of bankruptcy”.
He added Imran left deficit of 120 billion dollars. government spent more money on oil subsidy, announced Imran ahead of his dismissal via no-confidence movement than its entire consumption.
“If Imran Khan had not come [to the government] keep the lid on prices of potatoes and onions, then why did he come to powerMifta joked.