–Leaders warn new wave of inflation to hit common man
ISLAMABAD: Pakistan Muslim League-Nawaz (PML-N) on Tuesday accused the Pakistan Tehreek-e-Insaf (PTI) government of economic mismanagement and held it responsible for highest inflation in four years that put a severe financial burden on the common man.
Speaking at a press conference, PML-N leaders Miftah Ismail, Senator Musadiq Malik and National Assembly Member Marriyum Aurangzeb said the misstatements of ministers had led to a decline in the stock market, urging the government to take back its decision of cutting the Public Sector Development Programme (PSDP).
Dr Musadiq reminded that the government cut Rs90 billion earlier allocated for projects in health, education, power, science, technology and water sectors. “As the government is claiming that the economic crisis is over, the original allocations for development projects should be restored,” he stated.
Miftah said the government raised prices of electricity and gas whereas petrol prices went up from Rs87 to Rs98 per litre.
“The exchange rate that was at Rs115 against the dollar when the PML-N government left has now reached Rs133,” he said and added that in the upcoming months, a new wave of inflation and price hikes would hit the common man due to the inability of the federal government to manage the economy.
He said the PTI government “lacked” the ability and capacity to manage the economy and despite getting loans from Saudi Arabia, China and the United Arab Emirates, it was seeking more loans from the International Monetary Fund (IMF). He said PTI made “false” promises that it would bring back $200 billion stashed abroad, however, later denied its claims along with others of massive money laundering.
Miftah stressed that the PML-N leadership was ready for accountability but Jehangir Tareen, Pervaiz Elahi and Aleem Khan should also go through the due process of being held accountable. He also alleged that 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 could the PTI government now justify the dual nationals who were a part of the cabinet?
“The government imposed new taxes amounting to Rs90 billion and was taking more loans as compared to the last government.”
He said Shehbaz Sharif should have been made the Public Accounts Committee chairman as per the parliamentary tradition set in the past 10 years but PTI refused to do so only to hide its “corruption and inefficiency”.
To a question, Miftah said Nawaz was the most popular leader and three-time elected prime minister of the country and he stood with the people who always supported him.
