Former finance minister Shaukat Tarin stated on Thursday that the IMF accord will not serve the public interest since the present administration accepted the IMF’s tough requirements, which the PTI government had firmly refused.
At a news conference, he claimed the PTI-led government had taken a courageous step by rejecting the IMF’s demand that electricity and petroleum goods be raised in price. He said that the PTI government’s objective was to cover the capital by expanding the tax base.
He went on to say that Imran Khan went to friendly nations and the IMF to help the country out of the economic disaster that the PMLN administration had created and that he was successful in getting the country back on the road of economic progress.
He said that the current regime’s economic staff provided PTI government figures plainly proving that the economy was strengthening, something they had previously refused to admit.
He pointed out that PTI’s policies had permitted stronger growth for two years in a row, with the nation seeing a 4.4 percent growth in agriculture and a 7% increase in the industrial sector this year. He said that dislodging the PTI administration was beyond understanding when everything was working well and the country’s economy was stabilizing.
India and China were getting cheap oil from Russia, according to Tarin, while the imported rulers were making up justifications to prevent a similar arrangement.
Tarin expressed his alarm, saying that the imported administration dropped fuel and diesel bombs on the people as soon as they assumed power, raising petrol prices by Rs. 60 in a week and electricity prices by Rs. 7.5 per unit. He said that the price of gasoline had risen by 45 percent.
He said that downgrading Pakistani banks would have an impact on the economy, that inflation in the nation might reach 25 to 30 percent, and that the economic crisis may put a halt to the country’s businesses, as well as put thousands of people out of work.
He predicted that the current government’s economic policies will stifle development.