Former Minister for Finance Miftah Ismail considered the decision of government to reduce petroleum development levy (PDL) this month as “reckless”, without international Monetary Fund’s (IMF) consent.
He also responded to Shaukat Tarin on Twitter by stating, “PTI nearly bankrupted us but when I took over and went to the IMF we saved Pakistan from default.” Moreover, he criticized the opponent party for providing “unfunded and unsustainable subsidy” on petrol, terming the act as “unforgiveable.”
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
“You agreed to increase sales tax to 17 percent 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,” Miftah highlighted.
The PTI member Shaukat Tarin had said that the Imran Khan-led government was “blamed for violating IMF conditions”. He further claimed that Miftah had said that the incumbent government “did not wait to get clearance from MD IMF before announcing the fuel prices”.
“Clear double speak,” added Tarin.
Minister for Finance KPK Taimur Khan Jhagra also pointed out the remarks of Miftah Ismail on government’s decision in a tweet, ” he[Miftah Ismail] has just called Shahbaz Sharif & Ishaq Dar’s handling of IMF conditions reckless.”
“Miftah Ismail, the finance minister of this govt, is within his rights to have a negative opinion about PTIs handling of the economy”, Jhagra added.
Miftah Ismail, the finance minister of this govt, is within his rights to have a negative opinion about PTIs handling of the economy. We disagree.
But hear this; he has just called Shahbaz Sharif & Ishaq Dar's handling of IMF conditions "reckless." pic.twitter.com/SDxUPX1m5X— Taimur Khan Jhagra (@Jhagra) October 2, 2022
Reduction in petroleum prices announced
Both the PTI and PML-N leaders were debating Finance Minister Ishaq Dar’s recent reduction in petrol prices.
Earlier this week, Ishaq Dar reduced petrol price to Rs224.80 per litre from Rs237.43 after a reduction of Rs12.63, providing relief to the inflation-afflicted people of the country. Likewise, high-speed diesel price is being reduced by Rs12.13. It will now be sold at Rs235.30, [down] from the existing Rs247.43,” according to Ishaq Dar.
The price of kerosene has been reduced by Rs10.19 per litre from Rs202.02 to Rs191.83. The rate of light diesel oil (LDO) has been cut by Rs10.78 per litre from Rs197.28 to Rs186.50.
Dar, speaking at his first press conference as finance minister, stated that the decision to lower petroleum product prices was made following consultation with Prime Minister Shehbaz Sharif.