Wednesday Nov 10 2021
Web Desk

PM Imran Khan responsible for rising inflation in Pakistan, says Miftah Ismail

Web Desk
A file photo of PML-N leader and former finance minister Miftah Ismail.
A file photo of PML-N leader and former finance minister Miftah Ismail. 

  • Buzdar had sugar exported for Rs40/kg, and imported back for Rs60/kg, alleges Miftah Ismail.  
  • Government focusing efforts elsewhere instead of on curbing inflation, says Ismail. 
  • Miftah slams govt for buying LNG at highest-ever rate. 

Prime Minister Imran Khan is to blame for the surging inflation across the country, said former finance minister Miftah Ismail, as he flayed the PTI-led government, blaming it for making the lives of the poor even more difficult. 

"The price of sugar has gone up by Rs25 in the last two to three days," he said. Ismail alleged that Punjab Chief Minister Usman Buzdar had sugar exported for Rs40/kg and brought it back to the country at an inflated cost of Rs60/kg. 

Ismail brushed aside the government's narrative that prices of petroleum and food products are on the rise worldwide, saying that Pakistan had bought LNG at expensive rates. 

He said that the government, instead of focusing its efforts on curbing the rising inflation, is busy in ensuring news stories do not get published. 

Miftah Ismail said the PML-N government had left the country with a debt of Rs25,000bn while currently, it had ballooned to Rs40,000bn. 

Pakistan fared well amid global commodity price hike: Imran Khan

Issuing a statement on Twitter on Sunday, PM Imran Khan had said that Pakistan had comparatively managed “much better” than other countries amid an unprecedented price hike of commodities caused by COVID-19 lockdowns.

The premier had written that an unprecedented rise in commodity prices internationally had adversely affected most countries in the world as a result of the COVID-19 lockdowns.

The prime minister had also shared a video clip of Finance Ministry Spokesperson Muzammil Aslam who rubbished the notions of Pakistan’s dwindling economy.

Quoting data by the Food and Agriculture Organisation, he said that from September to October this year, food prices increased by 1.9%, World Cereal Index by 3.2%, edible oil prices by 9.6%, and dairy products by 2.6%.

However, he said that despite the worldwide inflation trend, Pakistan’s exports recorded an increase of 17% in October and are likely to touch the $30 billion mark this year. Textile exports are expected to reach $22 billion this year, he said.

Imran Khan noted consequent to the government’s timely measures, the non-oil imports of the country reduced by 12.5% last month making a difference of $750 million.

He had said that due to increasing income, tax collection also surged with a 32% increase in four months, resulting in the government receiving an additional Rs151 billion compared to last year.