KARACHI: With country’s economy teetering amid record-high inflation, Minister for Finance Miftah Ismail has hinted at his early exit, saying that although coalition government has 13 months, he may not have that much time.

Addressing an event at Karachi’s Institute of Business Administration (IBA), he spoke at length about politics, national growth strategy, tax collection, increasing population and other important issues hampering economic stabilisation. “Government has 13 months but I may not have that much time,” said Ismail. His statement comes in backdrop of dissatisfaction within PML-N over Shehbaz Sharif government’s policies. PML-N supremo Nawaz Sharif had recently left government meeting over a petrol price disagreement and expressed anger with minister for increasing fuel prices, according to party Vice President Maryam Nawaz.

According to senior journalist Suhail Warraich, who met PML-N supremo in London, Nawaz Sharif was not pleased with party’s narrative, saying that Prime Minister Shehbaz Sharif should himself reach out to masses to explain government’s policies and causes of inflation. Miftah Ismail said that government took difficult decisions in difficult situations as their first priority was to revive International Monetary Fund’s loan programme. “We contacted IMF soon after coming to power and with prudent policies saved Pakistan from default.” PTI government signed an agreement with Washington-based lender and then violated terms of agreement by announcing subsidies on petroleum products, he said.

He said that Pakistan “has not defaulted and will never default”, adding he feels ashamed asking for loans. “No one wants to give tax in Pakistan,” he lamented further. Ismail said that flash floods have caused devastation on a large scale in country. “Rs 28 billion have been disbursed through Benazir Income Support Programme in a transparent manner in order to provide relief to affected people,” he said. While talking about tax policies, Miftah said that scope of tax net is being increased and business class is being brought under tax net.

He said we would not leave flood-affected people alone in this testing time and they will be compensated by utilising all available resources. Public Sector Development Programme funds are also being diverted for rehabilitation of flood victims across country.

Published in The Daily National Courier, September, 03 2022

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