If we don’t make tough decisions, there will be disaster, Finance Minister
ISLAMABAD: Federal Finance Minister Muftah Ismail has said that the ministers are harassing him for raising the prices of petroleum products but if we do not take tough decisions, there will be catastrophe.
Addressing a post-budget press conference, Finance Minister Muftah Ismail said that when we got the government there were some economic problems, I have never seen such a situation in Pakistan, 4 years ago the revolving debt was 503 billion, today up to 2500 billion. Has arrived
He said that the electricians had come. They said that there is such and such money. I said that these are the same problems that existed 4 years ago. A subsidy of Rs. Out of pocket.
He said that there are many reasons for losses in the power sector. If 4 accountants are appointed then these problems will be solved in 3 days. A few years ago, electricity was generated from coal at Rs.
Muftah Ismail said that the June fuel adjustment charges bill will come in September, then the people will say that the bill has come. He said that revolving credit has also increased in the gas sector and it has reached Rs. 1500 billion.
“I have told the prime minister that we will have to make tough decisions. If the prices do not go up, the IMF will not agree with us. The prime minister is very unhappy with the increase in petrol prices,” he said. The ministers are beating me.
“If we don’t take tough decisions, there will be catastrophe. Even now we are subsidizing Rs 19 on petrol, Rs 53 on diesel. Many subsidies were given in Sri Lanka and it went bankrupt. Today it is expensive petrol, diesel,” he said. Are buying and medicine is not available there.
The Finance Minister said that whoever becomes the Prime Minister has to go to his friends. How long will we run on the money of friends? 4 million people texted for Rs.
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He said that all facilities are available to one percent class, it seems that this country is made only for princes, Pakistan should be called one percent republic instead of Islamic republic of Pakistan, do not blame anyone, cooperate with us. To get out of this swamp.
Muftah Ismail said that from Liaquat Ali Khan to Shahid Khaqan Abbasi not as much loan has been taken as the previous government has taken. Shaukat Tareen says we have borrowed 76% not 80%.