Treasury lawmakers hold PTI government responsible for current economic crisis – Pakistan

ISLAMABAD: Lawmakers belonging to the ruling coalition on Thursday blamed Pakistan’s previous Tehreek-e-Insaf (PTI) government for the ongoing economic crisis, soaring inflation and rising commodity prices oil, gas and electricity in the country.

Participating in the budget debate on the Finance Bill 2022-23, Pakistani Muslim Nawaz League (PML-N) MP Rasheed Khan said that the faulty economic policies of the PTI are the reasons behind the deteriorating situation. economy and soaring inflation in the country. country.

He said that due to the PTI, the value of the dollar fell from Rs 115 to Rs 190 during his tenure as the prices of petroleum products, electricity and daily use items soared to unaffordable levels. .

Despite all the ‘favours’ – from the mighty military establishment – he claimed that the PTI government over the past three and a half years has failed miserably in putting in place and designing prudent economic policies to relieve man of the common.

He expressed his optimism that the coalition government would not only lift the country out of the current economic crisis, but also bring relief to the people.

He asked the government to carry out an investigation into the alleged corruption committed by the management and friends of the PTI.

Agha Rafiullah of the Pakistan People’s Party (PPP) said the coalition government had no choice but to take tough decisions to overcome the economic challenges facing the country.

He said that every effort is being made to provide maximum relief to the common man and avoid the negative impacts of PTI’s poor economic policies.

“The PTI had signed unrealistic and unfavorable agreements with the IMF [International Monetary Fund] putting behind the interests of Pakistan,” he said.

Dr. Darshan of PML-N, while criticizing the PTI government’s deal with the IMF, said that the policies of the previous government had made the life of the common man miserable.

He said the PTI government had taken out record loans and allowed price increases for all items used by the masses.

Malik Mukhtar of PML-N stressed the need to sign the “Economy Charter” for sustainable economic growth and put the country in the right direction.

He asked the Minister of Finance to focus on the industrial sector which contributed to the improvement of the country’s exports.

Dr Fehmida Mirza of the Grand Democratic Alliance (GDA) said parliamentarians are expected to have a closed-door briefing on the government’s talks with the Tehrik-e-Taliban Pakistan (TTP).

She called on the government to take effective action to tackle the coronavirus as cases rise again.

She said the economic challenges facing the country must be addressed with collective wisdom and all political parties must sit together to draw up an economic roadmap.

She said the parliament should be strengthened and lawmakers should do their part to improve the economic situation.

She hopes that reforms within the Federal Board of Revenue (FBR) will continue and that the tax net will be widened through technological means.

Shahida Akhtar Ali called the budget “good overall” but demanded more people-friendly policies to uplift the oppressed segment of society.

She said the country’s import of agricultural products is about $7 billion and there is a need to increase production per acre through the use of modern technologies.

She said agricultural machinery should be exempt from taxes and research should be done for better production through the use of quality seeds.

PML-N’s Ahmed Raza Maneka said he was confident that the incumbent government would soon be able to revive the national economy, as it took drastic measures in the 2022-23 federal budget to put the country on a sustainable path. of progress and development.

He called for a “Charter of the Economy” bringing together all stakeholders to move the economic wheel forward at a rapid pace.

PML-N MP Samina Matloob said affected neighborhoods should pay attention to the production of quality items by the industrial sector so that Pakistani goods can get their fair share in the international market, which would eventually increase reserves. exchange rate of the country.

Naveed Aamir Jeeva of the PPP said that the PTI government is not taking proper care of the minority community living in Pakistan and making the life of the common man miserable due to its poor economic policies.

Muhammad Khan Daha of the PML-N described the budget as encouraging which would help pull the country out of the current economic crisis despite all the challenges inherited from the “incompetent government” of the PTI.

He said the government should pay special attention to promoting food processing for value addition as this will increase the country’s exports, adding that the agricultural sector has the great potential to overcome the economic challenges it is facing. .

Calling the federal budget “constructive and balanced”, PPP’s Mahar Irshad Ahmad Khan said the incumbent government had presented the best fiscal plan possible in a difficult financial situation inherited from the old regime.

Copyright Business Recorder, 2022

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