{"id":17990,"date":"2022-06-23T02:39:41","date_gmt":"2022-06-23T02:39:41","guid":{"rendered":"https:\/\/dailykashmirpost.com\/eng\/?p=17990"},"modified":"2022-06-23T02:39:41","modified_gmt":"2022-06-23T02:39:41","slug":"economic-situation-to-improve-in-three-months-says-miftah","status":"publish","type":"post","link":"https:\/\/dailykashmirpost.com\/eng\/2022\/06\/23\/economic-situation-to-improve-in-three-months-says-miftah\/","title":{"rendered":"Economic situation to improve in three months, says Miftah"},"content":{"rendered":"<p>Finance Minister Miftah Ismail on Thursday said the government was aware of the financial hardship faced by the people due to record inflation as he defended the need to make \u201cdifficult decisions\u201d to stabilize the economy.<\/p>\n<p>In a press conference alongside Information Minister Marriyum Aurangzeb, the finance minister claimed that the government would be able to control the economic situation within three months.<\/p>\n<div data-oembed-url=\"https:\/\/twitter.com\/RadioPakistan\/status\/1539859030029516801\">\n<div class=\"twitter-tweet twitter-tweet-rendered\"><iframe id=\"twitter-widget-0\" class=\"\" title=\"Twitter Tweet\" src=\"https:\/\/platform.twitter.com\/embed\/Tweet.html?creatorScreenName=etribune&amp;dnt=true&amp;embedId=twitter-widget-0&amp;features=eyJ0ZndfcmVmc3JjX3Nlc3Npb24iOnsiYnVja2V0Ijoib2ZmIiwidmVyc2lvbiI6bnVsbH0sInRmd190d2VldF9yZXN1bHRfbWlncmF0aW9uXzEzOTc5Ijp7ImJ1Y2tldCI6InR3ZWV0X3Jlc3VsdCIsInZlcnNpb24iOm51bGx9LCJ0Zndfc2Vuc2l0aXZlX21lZGlhX2ludGVyc3RpdGlhbF8xMzk2MyI6eyJidWNrZXQiOiJpbnRlcnN0aXRpYWwiLCJ2ZXJzaW9uIjpudWxsfSwidGZ3X2V4cGVyaW1lbnRzX2Nvb2tpZV9leHBpcmF0aW9uIjp7ImJ1Y2tldCI6MTIwOTYwMCwidmVyc2lvbiI6bnVsbH0sInRmd191c2VyX2ZvbGxvd19pbnRlbnRfMTQ0MDYiOnsiYnVja2V0IjoiZm9sbG93IiwidmVyc2lvbiI6bnVsbH19&amp;frame=false&amp;hideCard=false&amp;hideThread=false&amp;id=1539859030029516801&amp;lang=en&amp;origin=https%3A%2F%2Ftribune.com.pk%2Fstory%2F2362916%2Feconomic-situation-to-improve-in-three-months-says-miftah&amp;sessionId=4b08b57f97577a36c2ad97a14e95a893f13844a8&amp;siteScreenName=etribune&amp;theme=light&amp;widgetsVersion=b45a03c79d4c1%3A1654150928467&amp;width=550px\" frameborder=\"0\" scrolling=\"no\" allowfullscreen=\"allowfullscreen\" data-tweet-id=\"1539859030029516801\" data-mce-fragment=\"1\"><\/iframe><\/div>\n<\/div>\n<p>The minister said the stock market was in green whereas the exchange rate was also heading towards stability amid the imminent arrival of exchange reserves from China. He added that China agreed to provide $2.3 billion to Pakistan which would likely arrive tomorrow (Friday).<\/p>\n<p>He added that former prime minister Imran Khan violated the agreement with the International Monetary Fund (IMF), which resulted in the country&#8217;s current economic difficulties.<\/p>\n<p>According to Miftah, the\u00a0<a href=\"https:\/\/tribune.com.pk\/story\/2362485\/imf-will-revive-stalled-bailout-package-in-a-day-or-two-miftah\" rel=\"nofollow\">talks<\/a>\u00a0with the IMF regarding the revival of the fund facility were inching forward and he said the government made a difficult decision to raise the prices of petroleum products as it was necessary to save Pakistan from bankruptcy.<\/p>\n<p>Miftah termed the budget for the upcoming financial year \u2018historic\u2019 and said that the government did not put more burden on the poorer segments of the society and instead taxed the rich to generate extra revenue. \u201cThe previous government imposed taxes on poor people,\u201d he added.<\/p>\n<p>According to the finance minister, Prime Minister Shehbaz Sharif reduced the prices of flour, ghee and sugar whereas Imran could not even control the price of sugar during his four-year tenure. \u201cWelfare organisations foot the bill for the soup kitchens (langar khana) [open during Imran\u2019s government],\u201d he added.<\/p>\n<p>The minister further said that\u00a0<a href=\"https:\/\/tribune.com.pk\/story\/2359892\/those-earning-less-than-rs40000-to-get-rs2000-subsidy\" rel=\"nofollow\">relief<\/a>\u00a0announced by the PM in the wake of an increase in fuel prices would benefit 80 million people.<\/p>\n<p>During the press conference, Miftah also lashed out at Imran Khan for leaving the country on the \u201cbrink of bankruptcy\u201d.<\/p>\n<p>He added Imran left a deficit of $120 billion. The government spent more money on petroleum subsidy,\u00a0<a href=\"https:\/\/tribune.com.pk\/story\/2359869\/imran-set-a-trap-for-us-by-lowering-pol-prices-shehbaz\" rel=\"nofollow\">announced<\/a>\u00a0by Imran ahead of his ouster via no-confidence motion, than its entire expenditure.<\/p>\n<p>\u201cIf Imran Khan did not come [to the government] to<a href=\"https:\/\/tribune.com.pk\/story\/2347766\/didnt-enter-politics-to-keep-a-lid-on-potato-prices-pm\" rel=\"nofollow\">\u00a0keep a lid on\u00a0<\/a>the prices of potatoes and onions, then why did he come to power,\u201d Miftah quipped.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Finance Minister Miftah Ismail on Thursday said the government was aware of the financial hardship faced by the people due to record inflation as he defended the need to make \u201cdifficult decisions\u201d to stabilize the economy. In a press conference alongside Information Minister Marriyum Aurangzeb, the finance minister claimed that the government would be able [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":17991,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[40,39],"tags":[],"class_list":{"0":"post-17990","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-latest-news","8":"category-pakistan"},"_links":{"self":[{"href":"https:\/\/dailykashmirpost.com\/eng\/wp-json\/wp\/v2\/posts\/17990","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dailykashmirpost.com\/eng\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dailykashmirpost.com\/eng\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dailykashmirpost.com\/eng\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dailykashmirpost.com\/eng\/wp-json\/wp\/v2\/comments?post=17990"}],"version-history":[{"count":1,"href":"https:\/\/dailykashmirpost.com\/eng\/wp-json\/wp\/v2\/posts\/17990\/revisions"}],"predecessor-version":[{"id":17992,"href":"https:\/\/dailykashmirpost.com\/eng\/wp-json\/wp\/v2\/posts\/17990\/revisions\/17992"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dailykashmirpost.com\/eng\/wp-json\/wp\/v2\/media\/17991"}],"wp:attachment":[{"href":"https:\/\/dailykashmirpost.com\/eng\/wp-json\/wp\/v2\/media?parent=17990"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dailykashmirpost.com\/eng\/wp-json\/wp\/v2\/categories?post=17990"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dailykashmirpost.com\/eng\/wp-json\/wp\/v2\/tags?post=17990"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}