Islamabad: Senior leader of Pakistan Muslim League Nawaz (PML-N) MiftahIsmail on Tuesday lamented that the country’s economy was badly damagedduring the tenure of Pakistan Tehreek-e-Insaf (PTI) which had piled thepublic debt to the level of Rs6,400 billion.
Addressing a press conference along with other PML-N leaders Musaddiq Malikand Muhammad Zubair, Ismail said that PTI had made people to suffer bytaking the economy to this bad condition.
He said, the fiscal deficit was hovering at around Rs5,600 billion and ifsupplementary grants of Rs800 billion was included, the total amount wouldreach to Rs6,400.
The PML-N leader elaborated how the illogical decisions by the previousgovernment had resulted in increasing overall debt.
He, however, expressed the hope that future of Pakistan was brighter underthe leadership of Prime Minister Muhammad Shahbaz Sharif. He said allpossible efforts would be made to contain the deficit, adding that it wastheir responsibility to lead country towards better future.
Miftah Ismail who is expected to become Advisor to Prime Minister onFinance, also criticized the PTI government over providing relief packageof Rs 370 billion under which the former prime minister Imran Khan hadannounced to reduce the petroleum prices by Rs 10 per liter and electricityby Rs 5 per unit.
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To a question, he said the government had not decided yet to increase thepetroleum prices but the decision would be taken after reviewing thesummary issued by Oil and Gas Regulatory Authority (OGRA).
This was a landmine that the PTI government had laid for the upcominggovernment, he said adding that the amnesty scheme was also needless as itwas against the conditions agreed with the International Monetary Fund(IMF).
When asked whether the current government would take measures to reduce theinflation rate in the country, Miftah Ismail pointed out that thegovernment could not control the inflation immediately due to bad policiesof the previous government.
“First we will negotiate with the IMF to convince them to ease out thetough conditions so that the government could provide relief to themasses,” he added.
