The Pakistan Muslim League-Nawaz’s (PML-N) Finance Minister Miftah Ismail has said that the terms of the deal with the International Monetary Fund (IMF) and fuel subsidy have caused the economic turmoil in the country.
As per details, The Finance Minister of PML-N said that the country’s economy will take off as soon as we rid ourselves of the IMF’s trap, added that it is not easy to revive the economy from the disastrous condition the PTI left it in.
Miftah Ismail said that subsidizing petroleum products is causing severe stress on the finances of the country, added that the government has to take more loans to maintain the subsidy over petroleum products.
He said that PTI took record loans of $20 billion in their three years, which caused the economic collapse.
The PML-N leader said that the PTI government left us with only $10.5 billion in foreign reserves, which was sufficient for only 45 days of payments, added that the local currency and markets improved as soon as the new government took charge, he said that he is hopeful that the economy will be revived soon.
Miftah Ismail said that Imran Khan will be held accountable for the economic disaster he caused in 3 years of his government.
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