ISLAMABAD: PML-N leader and former finance minister Miftah Ismail regretted on Tuesday that the previous Imran Khan government reneged on the promises it made to the International Monetary Fund (IMF).
Addressing a press conference alongside other party leaders, he said the previous government also went back on the agreements reached with the Washington-based lender.
Slamming PTI, Miftah Ismail said budget deficit was being projected at a whopping Rs6,400 billion due to its economic policies, adding government expenditures were likely to surge beyond Rs9,500 billion.
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Rs25,000 billion worth of loans were taken from 1947 to 2018 but the PTI government borrowed 80 per cent of that amount in just three and a half years, he pointed out.
The PML-N leader said the primary deficit was being projected at Rs1,650 billion while trade deficit was expected to touch $45 billion, which is all time high in the country’s history.
He maintained that the country’s foreign exchange reserves were also depleting with the growing current account deficit. It was the new government’s top priority to stabilise depleting foreign exchange reserves, he added.
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Miftah said the government would leave no stone unturned to overcome the economic challenges confronting Pakistan.
