Pakistan

Miftah Ismail blames Imran Khan’s deal with IMF and its violation for rising dollar

Blaming PTI Chairman Imran Khan, Finance Minister Miftah Ismail on Friday said that Khan’s deal with the International Monetary Fund (IMF) and its violation are the reason behind rising dollar and high inflation.

Taking to Twitter, the finance minister criticised the PTI-led government and said that it is not an easy task to stabilise the economy deteriorated economy left by Khan.

“There has been a loss of Rs120 billion this month and no government can bear such a huge deficit,” he said, adding that the “subsidy on petrol has put a strain on Pakistan’s economy.”

“There is a difference between the petrol prices in the world market and the selling price in Pakistan,” he said.

The finance minister said that the petrol subsidies are the reason for the rise in inflation and the turmoil in the market. “If the government gives subsidies without having money, then it has to take more loans, increasing the interest rates, and putting pressure on the rupee,” he said.

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