ISLAMABAD: Leader of Pakistan Muslim League-Nawaz (PML-N) Miftah Ismail on Tuesday expressed regret that Pakistan Tehreek-e-Insaf (PTI) has caused damage to the country. economy and dumped up public debt to level of Rs 6400 billion during his tenure.
Speaking at a press conference with with other PML-N leaders Musaddik Malik
and Muhammad Zubair, he said that PTI made people suffer by taking economy to that bad condition.
Miftah said the budget deficit is hovering around Rs 5,600 billion and if additional grants of Included 800 billion rupees, total amount will reach 6400 billion rubles.
He developed how illogical decisions previous government led in overall growth debt.
However, he expressed the hope that future of Pakistan is brighter under the leadership of Prime Minister Shehbaz Sharif. He said everything possible efforts would be made contain the deficit by adding that they are responsible for lead country for the better future.
PML-N leader, who he is expected to become an adviser to the prime minister on finance, also criticized PTI government over Giving help package of 370 billion rupees, according to which former prime minister Imran Khan had announced to reduce oil prices by 10 rupees per liter and electricity by 5 rupees per unit.
When asked, he said government has not yet decided to raise oil prices, but decision will be made following review of a summary published by the Oil and Gas Regulatory Authority (OGRA).
To the question whether current government would take action reduce in
inflation rate in country, indicated Mifta out what government cannot immediately control inflation due to bad politics of previous government.
“First we agree with IMF to convince them to loosen out difficult conditions to government can bring relief to the masses,” he said. added.
He said that the import of Pakistan also has reached record high level, thanks to which the country current The account deficit is expected to reach $20 billion by the end of of current fiscal year.
This was stated by the leader of the PML-N. in last in just a month, the country’s gold and foreign exchange reserves were declined approximately $5 billion.
He expressed his satisfaction over in announcement of Prime Minister Shehbaz Sharif for increase in the minimum wage to 2500 rubles. According to him, this measure will help people caught in inflationary pressure.
He said that by raising wages by 10 percent of those with a monthly salary of less than 100,000 rupees, also help people get relief. He asked private companies, including media houses for a pay rise of their employees by 10%.
Mifta said that the increase of 10 percent in pensions would help reduce cargo on old pensioners and this will have financial consequences of 13 billion rupees in next three months of current fiscal year.
