Miftah Ismail criticises govt for massive drop of foreign reserves

ISLAMABAD: Former Finance Minister Miftah Ismail on Friday stated that the foreign reserves of Pakistan would never drop this level at $2.5 billion if his financial policy is followed, ARY News reported.

While talking to the ARY News programme “Bakhabar Savera”, Miftah Ismail stated that the current finance minister Ishaq Dar took delayed decisions which dented Pakistan’s economy.

He said that the ruling government took tough decisions to fulfil the conditions of the International Monetary Fund (IMF) to revive the loan agreement.

Miftah Ismail said that the ruling government is now realizing that the situation would have been different if the finance ministry followed his policy.

The PML-N leader said that the friendly countries also assured IMF that they would invest in Pakistan, but later they all stepped back.

He said that former finance minister Shaukat Tarin had made a mistake in the past and current finance minister Ishaq Dar also made some mistakes which will surely create a big impact at the time of the election.

PML-N has suffered enormous losses, if they continue with Pakistan Tehreek-e-Insaf (PTI) chief Imran Khan’s policy, how can they be held responsible PTI chief?

Miftah Ismail expressed concern over imposing additional taxes as well as the inflation in petroleum products in the past two weeks and said that the prices will automatically drop after the public will release the stashed dollars in the market.

The former finance minister said that the next IMF program will be started as soon as this program ends.