Country is not heading for default, Shaukat Tarin

Karachi: Former Finance Minister Shaukat Tareen has said that in the midst of chaos in the country, I will not make any irresponsible statement, the country is not going towards default, the people may face a difficult situation due to the economic situation.

Shaukat Tareen while holding a press conference in Sindh House along with Economist Muzamil Aslam and Information Secretary Karachi Muhammad Taha said that a few days ago the State Bank had issued a report on the deterioration of the economy, which also indicated that the banks were running out of reserves. Given, after all this situation, I don’t understand how these people will take the dollar below 200 rupees.

He added that at present the value of the dollar is skyrocketing, which has made everything expensive in the country. Shaukat Tareen said that the government ministers are not opening LCs despite their efforts, currently payments are not being made to pharma, chicken feed, shipping lines, the value of the dollar is increasing day by day.

Shaukat Tareen said that it was expected that the price of petrol would be reduced this month, but the government did not reduce the price of petrol, due to which billions of rupees were injected to the people. Despite the continuous decline in the global market, the public was deprived of this relief.

Shaukat Tareen further said that former finance minister Miftah Ismail had appreciated our schemes, but now the government has stopped providing relief to the people under these schemes. If the government opens LCs, it will increase imports. Gee, now I hear that Russia has banned us from giving cheap oil.

He stressed that the government has to talk to Russia again to get cheap oil, it is also known that the government needs 40 million rupees this year, the IMF has also refused to give them a loan, at this time. CDEs are running at 90%, who will give them loans in these conditions?

Shaukat Tareen said that IMF did not tell us that your friends will not give money unless they say no, you have to stand up to them and talk, the gap of 99 billion needs to be restructured.