Fuel prices would be much more expensive according to deal PTI govt made with IMF: Miftah – Pakistan

Treasury Secretary Miftah Ismail said on Wednesday that diesel and gasoline prices would have been much more expensive as the PTI government reached an agreement with the International Monetary Fund (IMF).

In an interview with the Karachi press, the minister strongly criticized the PTI regime for saying it was incapable of solving the country’s economic problems.

“They told the IMF that they would not make a loss (subsidize) on diesel. Now they are losing 70 rupees per liter. But they do not inflict a loss on the IMF and instead they are subject to a 30 rupee levy and a 17% sales tax. So, under the contract with PTI, diesel should cost 150 rupees more, Ismail said at present, 145 rupees should be 295 rupees.

He argued that the previous government had not informed the public about these agreements, adding that Prime Minister Shebaz Sharif “rejected and continues to resist” these agreements.

“They promise to eliminate a loss of 30 rupees from the price of gasoline and impose a 30 rupee tax and 17 percent sales tax. [the price] About Rs90. This was also resisted by Shehbaz Sharif and will continue to do so.”

The minister argued that the previous government spoke in “two dialects” with different promises here and different promises abroad.

‘Government has cut sugar and wheat prices’

Ismail said the government has mainly focused on lowering commodity prices since Shevaz took office. He argued that the PTI government had reached an agreement that was difficult to implement.

“Imran with one hand sahab signed an agreement with the IMF […] Nevertheless, by God’s grace, for the first time since 2019, sugar is available at an affordable price.” [rate] It was Rs180-190.

He also asked if it was a coincidence that sugar prices fell after Imran Khan was ousted.

He added that Utility Stores Corporation is selling sugar at a more discounted price. In the same way, 20 kg of wheat flour is sold for 800 rupees and 10 kg for 400 rupees, respectively, at 1,100 rupees and 550 rupees, he said.

“The credit for this goes to Shehbaz Sharif and this government,” he said.

Talking about the price of ghee, the minister said that it is currently available at utility stores for Rs260 per kilogram. He argued that former Prime Minister Imran Khan left record deficits and record inflation due to debt.

He said the previous government had said Miftah Ismail’s business soared during his tenure and used it as evidence of his performance.

The minister said the real example the government should have done was Farah Khan, a close friend of Imran’s wife Bushra Bibi. He is being investigated by an anti-corruption watchdog on charges of accumulating illegal assets beyond known sources of income and money laundering. .

“Look how she has progressed, but I think her business is struggling because she left Pakistan and went to Dubai,” he said.

“When Imran Khan came to power, we were stuck and in prison. So why are the people of Imran Khan leaving? If you want to make Riyasat-i-Madina, do it here, not in Dubai.”

He said the former prime minister would get an answer as to why the transfer and posting were made “according to Farah’s orders” and why “the case was made and closed under Akbar’s orders”.

Ismail asked Imran to answer “inflation and the corruption he left behind.”

‘End road shedding during Eid’

The minister also delegated tasks to the powers of the state to the former government. “Cannes sahab, tell us how many power plants you have installed. Isn’t it true that the power plant producing 7,500 MW of electricity has been shut down due to lack of fuel or gas?”

He argued that the power plant producing 2,000 MW was shut down because the previous government didn’t care about maintenance. Ismail went on to say that Prime Minister Shehbaz and Federal Powers Minister Khurram Dastgir Khan “have ended load shedding” during the Eid holiday.

The minister said Imran left load balancing in the country where former Prime Minister Nawaz Sharif had installed power plants everywhere. “We had the ability to generate electricity. [but] The plant was closed due to an inability that caused load balancing.”