Finance Minister Miftah Ismail has stated that he will travel to Doha and will not return to the country unless a favourable deal with the International Monetary Fund is reached while criticising the previous government for agreeing to the preposterous conditions imposed by the global lender, which are proving a landmine for the government and disastrous for people’s economic well-being.
Mr Ismail spoke to the media outside Karachi Airport on Monday before departing for Doha, where he would hold the final round of negotiations with the IMF for the release of the $1 billion tranches of the Extended Fund Facility. When former Prime Minister Imran Khan announced a subsidy package for the POL and energy prices in March, the IMF halted its loan programme for Pakistan.
The finance minister told reporters that the IMF wanted Pakistan to raise its interest rates and that the central bank might raise its policy rate, which is expected to be announced later today.
Mr Ismail attacked Imran Khan, claiming that the economy was in crisis as a result of the ex-premier and his then-finance minister Shaukat Tarin striking a deal with the IMF at the risk of the country’s economic survival.
He claimed Imran Khan had planted landmines throughout the country for the current administration. He said he couldn’t stop laughing when he heard ex-finance minister Tarin’s claims. He claimed that both Imran and Tarin agreed to the IMF condition of raising POL prices by Rs100/litre.
“Now the government is forced to raise POL prices by Rs150/L, but as directed by Prime Minister Shehbaz Sharif, the government will not hike petrol prices because people cannot afford such a large increase,” he said, adding that the government had been sticking to the subsidy since last month.
Mr Ismail questioned where the former premier and his foreign minister claimed to have left money in the national exchequer. He claimed Imran took a $21 billion loan, which the new government now has to repay.
In response to Imran Khan’s call for a long march, the finance minister slammed him, saying that Imran always prioritised personal politics over national interests.
“In every regime, Imran is hell-bent on stifling the country’s economy,” the finance minister claimed, adding that his march call was actually an attempt to save Farah Khan Gogi. He inquired as to why Ms Gogi and former SAPM Akbar Shahzad fled the country.
He accused former Punjab Chief Minister Usman Buzdar of selling 16 cement factory licences in exchange for kickbacks. He also accused PTI leader Ali Zaidi of being involved in corruption.
He bemoaned Imran’s march politics, which he said would be disastrous for the country.
