PML-N warns new wave of inflation to hit common man

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PML-N warns new wave of inflation to hit common man

ISLAMABAD: Pakistan Muslim League (Nawaz) here criticized the government of Pakistan Tehreek I Insaf (PTI) for economic mismanagement and held it responsible for highest inflation in four years that put severe financial burden on the common man.

Speaking at a press conference, PML-N leaders Miftah Ismail, Senator Musadiq Malik and MNA Marriyum Aurangzeb said the misstatements of ministers led to decline in the stock market. They urged the government to take back its decision to cut the Public Sector Development Programme (PSDP).

Dr Musadiq reminded that the government cut Rs 90 billion earlier allocated for projects in health, education, power, science, technology and water sectors. As the government was claiming that the economic crisis was over, the original allocations for development projects should be restored, he stated.

Miftah said the government raised prices of electricity and gas and petrol prices went up from Rs 87 to Rs 98 per liter. The exchange rate which was at Rs 115 against the dollar when the PML-N government left has now reached Rs 133. He said in coming months, a new wave of inflation and price hikes will hit the common man due to inability of the federal government to manage the economy.

He said PTI government lacked the ability and capacity to manage the economy and despite of getting loans from Saudi Arabia, China and United Arab Emirates, it was seeking more loans from International Monetary Fund (IMF). He said PTI made false promises that it would bring $ 200 billion from abroad and later denied its claims along with other claims of massive money laundering.

He stressed that PMLN leadership was ready for its accountability but Jehangir Tareen, Pervaiz Elahi and Aleem Khan should also go through the process of accountability. He alleged that Jehangir Tareen committed insider trading after buying shares in the name of his driver.

He said equating holding of iqama (resident permit) with money laundering was wrong, adding how PTI government could now justify that dual nationals were part of the cabinet. The government imposed new taxes amounting to Rs 90 billion and was taking more loans as compared to the last government, he expressed.

He said Shehbaz Sharif should have been made Chairman Public Public Accounts Committee as per the parliamentary tradition set in the last 10 years but PTI refused to do so to hide its corruption and inefficiency.

To a question, Miftah Ismail said Nawaz Sharif was the most popular leader and three time elected Prime Minister of Pakistan and he stood with the people and the people supported him.

Dr Musadiq said Rs 22 billion were looted in NICL scandal and prosecution filed a case against Dr Babar Awan but only Opposition was the target and leader of Opposition Shehbaz Sharif was put in jail.

He said the government was about to complete its 100 days but it was bereft of any plan and all its claims about improving economy could turn out to be mere political statements.

APP