LAHORE: Tehreek-e-Insaf (PTI) Pakistani Chairman Imran Khan on Sunday criticized “imported government” for price increase of oil products for a whopping Rs 35 and currency devaluation, saying corrupt rulers keep “financial massacre of masses.”
Referring to your handle on Twitter, former prime minister said that latest hike in combined fuel prices with devaluation of the rupee ‘crushed the masses in general and paid class in particular.”
Complete mismanagement of our economy corrupt and incompetent imported government crushed the masses and the mercenary class with latest hike in gasoline and diesel prices and devaluation from 33 rupees per dollar to 262.6 rupees per dollar. Electricity and gas price increase expected and unprecedented inflation of 35% with 200 billion rupees mini budget.
— Imran Khan (@ImranKhanPTI) January 29, 2023
“Complete mismanagement of our economy corrupt and incompetent importer government crushed the masses and the hired class with [the] latest hike in gasoline and diesel prices,” the tweet read.
head of PTI added that 35% unprecedented inflation is expected with Miniature for 200 billion rupeesbudget.
Criticism of the deposed prime minister comes just hours after Finance Minister Ishak Dar announced increase in petrol and diesel rose by 35 rupees per liter.
minister made in announcement in brief television address to the nation today and argued that kerosene oil and light diesel fuel prices were inflated up 18 rubles per liter.
Moreover, since government finished my control over rupee-dollar exchange rate in to revive the International Monetary Fund (IMF) loan program, Pakistani currency took descending lane.
The country strives for revival of stalled IMF program of $6.5 billion to head off an impending high risk of Default on international payments.
SBP said in this is latest weekly update that foreign exchange reserves were further reduced by $923 million – hardly enough for Import requirement two to three weeks.
In addition, Pakistan must repay foreign debt worth $7 billion in in last five months (February-June) of in current fiscal year 2023. It will repay another $74 billion. in in next three years – fiscal year 2024 to fiscal year 2026.
rebirth of the IMF program will help in government raise new debt of about 3-4 billion dollars over in next pair of months from multilateral and bilateral lenders, including the IMF, the World Bank (WB), the Asian Development Bank (ADB), the Asian Infrastructure Investment Bank (AIIB) and friendly countries like China, Saudi Arabia, United Arab Emirates and Qatar.
