ISLAMABAD: Finance Minister Miftah Ismail has said that Imran Khan increased the country’s debt by 75 percent and created mountains of problems for us, now we are facing problems in getting loans from the world.
While giving a press conference in Karachi, Finance Minister Miftah Ismail said that we are facing a problem in getting loans from the world. To deal with the economic crisis, the United Arab Emirates will send one billion dollars to Pakistan.
Miftah Ismail said that Imran Khan created mountains of difficulties for us by increasing the country’s debt by 75%, took difficult decisions to save Pakistan from bankruptcy, we are currently selling cheap petrol from Dubai, to get four dollars. Volley LNG is no longer available even for $40.
There has been a lot of progress on IMF funding, difficulties will persist till September and will improve later, $6 billion worth of edible oil will have to be imported this year, the current account deficit is at an all-time high, interest rates There has been an alarming increase, the economy cannot survive without the exchange companies, taking steps to further control the dollar, no payments have been stopped or will ever be stopped.
He said that there is an urgent need to set up more generation projects to increase the production of electricity, commercial electricity will become very cheap in some time.
Regarding agriculture, he said that there has been a sharp decline in agricultural production, fertilizers also have to be procured from outside, the production of rice, wheat, corn and sugarcane has decreased.
