Ishaq Dar slams Miftah Ismail for questioning his competence

ISLAMABAD: Finance Minister Ishaq Dar has slammed former finance minister Miftah Ismail for questioning his competence to deal with the International Monetary Fund (IMF).

While being interviewed by a private news channel, Ishaq Dar expressed outrage over Miftah Ismail’s statement in which he criticised him for not increasing the petroleum development levy (PDL) this month.

He told the private news channel, “It is my responsibility now to face the IMF but not Miftah or anyone else. It was not the summary for hiking the prices but it was about a lower rate of reduction.”

“I think that almost half of Pakistan is submerged after floods and we have already shifted the financial burden on the nationals. I cannot impose a levy of Rs5 each on petrol and diesel in this situation.”

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“Miftah Sahib may be comfortable with such decisions. I am dealing with the IMF for the last 25 years and he and anyone else should not be worried about it. I know how to deal with the IMF and nothing will happen. I am owning what I have done. It is now between me and IMF.”

“Pakistan will not face any negative result as I have some other solutions. However, it is a wrong move to make such a statement publically as he should contact me first then I will tell him about solutions.”

Miftah Ismail terms ‘reckless’ decision

Earlier, Miftah Ismail had termed the coalition government’s decision to not increase the petroleum development levy (PDL) this month without International Monetary Fund’s (IMF) approval, “reckless”.

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“Not increasing PDL this month without IMF approval is reckless, but what PTI did with our economy was unforgivable,” said Miftah on the recent cut in petroleum prices while responding to PTI Senator and former finance minister Shaukat Tarin on Twitter.

“You agreed to increase sales tax to 17% but reduced it to zero. You agreed to raise petrol levy every month by Rs4 to Rs30 but brought it to zero. You agreed to not give amnesty but gave one anyway,” said the Miftah. He added that the PTI government gave an “unfunded, unsustainable subsidy on petrol”.

1. Shaukat bhai but you did violate the agreement you made with the IMF. You agreed to increase Sales Tax to 17% but reduced it to zero. You agreed to raise Petrol Levy every month by Rs 4 to Rs 30 but brought it to zero. You agreed to not give amnesty but gave one anyway. https://t.co/UfEe4JJfcS

— Miftah Ismail (@MiftahIsmail) October 2, 2022

Miftah went on to say that the PTI nearly bankrupted Pakistan, however, when he took over and went to the IMF, the country was “saved” from default.

Miftah Ismail recently resigned from his ministry after Prime Minister Shehbaz Sharif appointed Ishaq Dar as country’s new finance minister.