PM Shehbaz warns of inflation surge after IMF deal
On Wednesday, Prime Minister Shehbaz Sharif stated that inflation is expected to increase even more following the loan agreement with the International Monetary Fund (IMF), in Islamabad.
Yesterday in Islamabad, PM Shehbaz Sharif declared that the federal government had enforced fresh taxes on big corporations in the mini-budget, but had protected the general public from any adverse financial effects.
Inflation:
According to him, the discussions with the IMF are in the final phase and it is certain that inflation will increase after the agreement. He further explained that meeting the IMF’s conditions is necessary, and in the supplementary budget, the focus was mainly on imposing taxes on luxury products.
During his statement, Prime Minister Sharif mentioned that the finance minister is working towards stabilizing the value of the currency. He also informed that Pakistan had fulfilled all the conditions set by the IMF for the staff-level meeting. Furthermore, he mentioned that the IMF had stipulated a condition to reduce subsidies, which the government is currently implementing.
The Prime Minister stated that the poverty rate in the country has risen and the government has taken significant measures towards reducing it.
According to PM Shehbaz Sharif, the elites have never fulfilled their responsibilities towards the country. He further announced that the government would impose new taxes on the elites.
The Prime Minister also highlighted (inflation) that overcoming the current economic crisis would require collective efforts.
No extra pay or perks:
The political leadership made important decisions today, as stated by the Prime Minister. “All ministers, advisers and special assistants will not receive extra pay and perks. The all ministers will now pay gas, water and electric bills from their own pockets.“
“”The government is repossessing luxury vehicles from all cabinet members and plans to auction them off. Additionally, the ministers will only be provided with one security vehicle as required, and their support staff will be prohibited from traveling abroad. The government has mandated that all lawmakers use economy class for domestic travel, and ministers cannot stay in five-star hotels during foreign trips.”
According to PM Sharif, the government will reduce ministerial and departmental expenses by a maximum of 15%.
Plan for conserving energy:
The PM stated that starting from today, the government will be rigorously enforcing its energy conservation strategy, which involves shutting down power to markets that remain open after 8:30 pm.
Toshakhana case On Public:
During a statement, PM Shehbaz Sharif announced that the government will disclose the Toshakhana record to the public. Additionally, he stated that individuals can only obtain a Toshakhana gift of up to $300 from now on.
Elections:
According to PM Sharif, holding general elections is a constitutional obligation. He also mentioned that the Election Commission has presented its position on the Punjab and Khyber Pakhtunkhwa (KP) elections.
The Prime Minister stated that the government will adhere to the recommendations made by the electoral watchdog. Furthermore, he declared that he would be writing a letter to the President to denounce his “unconstitutional action.”
The Finance Minister, Ishaq Dar, announced that he would release the IMF agreement on a website.
Published By Logical Baat, 23 Feb,2023.
