Imran violated IMF agreement by selling petrol at Rs150, says former finance minister
\n KARACHI
\nFormer finance minister Miftah Ismail has said Pakistan has reached to this state owing to the mistakes of last 75 years.
\nAddressing a gathering at a local hotel, Ismail said that the IMF extended relief during Covid pandemic, but we repeatedly committed mistakes.
\nHe said Shaukat Tarin on the onset claimed to give a budget without the International Monetary Fund (IMF) support. After it, he went to the IMF and announced mini budget, Miftah said. \u201cImran Khan violated the agreement with the IMF by selling petrol at below par price,\u201d he said.
\n\u201cI was jailed for installation of the LNG terminal that was the cheapest in cost. I was told by the NAB to testify against Shahid Khaqan,\u201d former finance minister said.
\n\u201cThe IMF offered relief during the Covid, but Hafeez Shaikh committed mistakes,\u201d he said.
\n\u201cWhen the IMF tranche came, Shaukat Tarin held the office. He announced budget without the IMF, later inked an agreement with the lender. Pakistan received the IMF tranche in February. The diesel\u2019s price was 212 but he sold it at 146 rupees thus the exchequer suffered 172 billion rupees loss,\u201d former finance minister said.
\n\u201cThe petroleum price was 190 but it was sold at 150 rupees,\u201d he said. \u201cIshaq Dar shown attitude to the IMF but now talking for deal with it,\u201d Ismail said. \u201cTwo mistakes were committed before me and one after,\u201d Miftah Ismail said.
\n\u201cWe have changed seven prime ministers in 11 years, India has opened five IT institutes in 10 years. Indian exports will be valuing 150 billion dollars this year, while we have not enough grain stocks required to us,\u201d he lamented.
\n\u201cWhat will happen to those who are living below the poverty line for last 75 years,\u201d he questioned. \u201cEvery year 5.5 million children born in Pakistan. Bangladesh has educated their girls and controlled population growth, while here talking on population control is a taboo,\u201d he added.
\nMiftah Ismail said it was hard to revamp the country\u2019s economy as the present economic outlook was nothing but the result of mistakes committed in the last 75 years. He said the economic recovery was a daunting and \u201cvery difficult task\u201d and that \u201csacrifices\u201d would have to be made to navigate the country out of the ongoing economic crisis.
\nMiftah said that 87% of Pakistanis do not get as much food as they should, and in districts where water is dirty, children are physically weak. \u201cChildren living in the villages of Sindh, Khyber Pakhtunkhwa, Balochistan and Punjab have been in crisis for 70 years,\u201d he said. He compared the country\u2019s progress to that of its neighbour.
\nHe said that the eighteenth amendment to the Constitution helped trickle down the power but it resulted in the creation of four power circles instead of one adding that it did not eventually let the money and authority flow down.
\n\u201cThe federation spends up to 63pc of the money on provinces, Azad Kashmir, and anti-terrorism funds to the KP which leaves the federation no [substantial] share\u201d, he added.<\/p>\n","protected":false},"excerpt":{"rendered":"
Imran violated IMF agreement by selling petrol at Rs150, says former finance minister KARACHI Former finance minister Miftah Ismail has said Pakistan has reached to this state owing to the mistakes of last 75 years. Addressing a gathering at a local hotel, Ismail said that the IMF extended relief during Covid pandemic, but we repeatedly […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":{"0":"post-317502","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-top-news"},"yoast_head":"\n