ISLAMABAD, June 21(ABC): Interior Minister Rana Sanaullah Tuesday said that the incumbent government was seeking guidance from PML-N’s “financial guru” Ishaq Dar to manage the ongoing economic crisis.
During the initial days of the coalition government, Dar, who is based in London along with PML-N supremo Nawaz Sharif, was very active and regularly appeared on TV shows, giving his input on the economy which sparked a debate about who was heading the finance ministry — Miftah Ismail or Dar.
The country is facing a crisis amid a delay in the revival of the International Monetary Fund’s (IMF) $6 billion loan facility stalled due to policy breaches by the previous government.
Sanaullah said that the PTI government signed a deal with the IMF which was not in favour of Pakistan.
“They [the PTI-led government] agreed to remove all sorts of subsidies despite the fact that the financial condition of our people was not such that they could tolerate more financial burden. They promised zero subsidies on petrol with IMF.”
He said that the incumbent government was reviving the same agreement which the PTI signed with the lender, adding that the PTI-led government “ruined the economy” and it was now difficult to manage it.
“They used to criticise Dar for controlling the dollar rate and when the PTI government came to power it shot up to Rs190 from Rs115. During our two-month tenure, it has ascended further,” the interior minister said.
The minister added that the IMF was not ready to show any flexibility and the dollar rate was increasing due to the delay in the agreement.
“We told the IMF to allow us to remove subsidies in phases but it refused. We will bring down the dollar to 182 after the loan programme is restored,” he claimed.
On the PTI’s countrywide protest call on Sunday against inflation, Sanaullah maintained that the masses are keeping themselves away from the protest.
“Last time, from among a population of 220 million, only 10,000 to 12,000 responded to Khan’s call,” he said.
The minister asked the PTI to admit its mistake and sit with the government to talk about an economic pact.