Karachi: Former Finance Minister Shaukat Tareen has said that the government should stop blaming us, if the government shows the balance of inflows and outflows, the situation will become clear and the doubts of default in the markets will end.
He said this while holding a press conference along with Muzamil Aslam at the Karachi Press Club on Monday. He said that we do not want Pakistan to default and inshallah it will not default, the tax revenues are decreasing due to which the fiscal deficit has increased.
He said that in the first quarter of this financial year, the financial deficit was estimated at 400 billion, which has now become 810 billion rupees. The government managers themselves are admitting that the GDP growth may be zero percent. It has been asked to install, but it is not known when the IMF review will take place.
Shaukat Tareen said that Ishaq Dar said that he will review the deal with the IMF, so what happened to him? Ishaq Dar said that he will bring the dollar below 200 but it did not come, at present the interbank rate is 224 rupees and the open currency rate is 230 rupees, but in the open market it is available at 240 rupees.
He said that Ishaq Dar said that he would talk to the rating agencies about downgrading Pakistan’s rating, but he increased the risk of credit default. There is only one solution to all these problems: to end political instability It will only come from the announcement of new elections.
Shaukat Tarin said that the government took a loan of 6.5 billion rupees in 6 months, this government made a loss of 3 thousand billion rupees in 6 months, the IMF has stopped talking to this government.
He said that by increasing the utility tariff, inflation will increase and the difficulties of industries will increase. Due to the non-availability of gas in winter, unemployment will increase and industries will be closed. .
The former finance minister said that the difference in the value of the dollar in the formal and informal market is 17 rupees, when the dollar is stopped in the interbank, the value of the dollar will increase, LCs are not opening, LCs worth billions of dollars are stopped. We are not saying this, the market is saying it.
Muzamil Aslam said that the government has stopped paying attention to Pakistan and only foreign visits are taking place, it is the first time that the country has not been stabilized after the IMF program.
