Miftah Ismail terms decrease in fuel prices 'reckless' decision

KARACHI: Former finance minister and PML-N leader Miftah Ismail has termed the coalition government’s decision to not increase the petroleum development levy (PDL) this month without International Monetary Fund’s (IMF) approval, “reckless”.

“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”.

2. You gave an unfounded, unsustainable subsidy on petrol. PTI nearly bankrupted us but when I took over and went to the IMF we saved Pakistan from default. Not increasing PDL this month without IMF approval is reckless, but what PTI did with our economy was unforgivable

— 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.

ISHAQ DAR VOWS MORE RELIEF FOR MASSES IN COMING WEEKS

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

It is pertinent to mention here that the federal government this week slashed petrol price by Rs12.63 per litre and high-speed diesel by Rs12.13 per litre, giving massive relief to the inflation-stricken people of the country.

The announcement was made by newly-appointed Finance Minister Ishaq Dar.