Senator Mushtaq Ahmed slams govt over Senate incentive bill

KARACHI: Jamaat Islami Senator Mushtaq Ahmed slammed the government over the Senate incentive bill, ARY News reported.

As per details, JI Senator Mushtaq Ahmed said that Pakistan’s youth want to flee the country because of the worst economic conditions and now their dead bodies are laying on the coast of Greece. 

He said that as 100 million people are living life below the poverty line the government should abolish all the incentives but instead, the incentives are given to the elite class. 

The incentive bill was not on the senate agenda but the amendment was introduced through a back door in the senate, he added. Senator Mushtaq said when he tried to raise his voice on the bill his mic was turned off.

He lambasted the federal government saying that Saleem Mandiwala despite being a government member is complaining that the budget 2023-24 is not for the poor people.

Earlier, US-based financial news service, Bloomberg has warned Pakistan of an economic default if the country did not avail International Monetary Fund (IMF) deal.

According to a Bloomberg intelligence report, Pakistan’s economic crisis could further deepen if the country did not avail of the International Monetary Fund (IMF) program and it could land the country into economic default.

The report said that Pakistan’s economy is in dire need of an IMF program as the country has to return $900 million at the end of June and $4 billion from July to December. 

If the foreign exchange reserves dropped down below $4 billion, the default threat will further increase, the report added.

Moreover, Pakistan can hold talks with IMF for a new deal in October but the country needs constant help from friendly countries to avoid default.