Not increasing PDL without IMF approval is reckless: Miftah Ismail
Former finance minister and PML-N leader Miftah Ismail criticised his own government for not increasing the PDL this month.
Former finance minister and Pakistan Muslim League Nawaz (PML-N) leader Miftah Ismail has criticised his own government for not increasing the petroleum development levy (PDL) this month without getting approval from the International Monetary Fund (IMF).
Miftah Ismail confirmed that Finance Minister Ishaq Dar violated the IMF agreement by freezing PDL without obtaining authorisation. He also expressed suspicions that Pakistan could face consequences over the violation of the IMF agreement.
Miftah Ismail has confirmed that Ishaq Dar (pdm govt) violated IMF agreement as they didn’t obtain authorisation to freeze PDL. pic.twitter.com/OldNUvVFww
— Virk Shahzaib (@VirkSh786) October 2, 2022
In a Twitter message, he said, “Shaukat bhai but you did violate the agreement you made with the IMF. You agreed to increase Sales Tax to 17% but reduced it to zero. You agreed to raise Petrol Levy every month by Rs 4 to Rs 30 but brought it to zero. You agreed to not give amnesty but gave one anyway.”
He added, “You gave an unfounded, unsustainable subsidy on petrol. PTI nearly bankrupted us but when I took over and went to the IMF we saved Pakistan from default. Not increasing PDL this month without IMF approval is reckless, but what PTI did with our economy was unforgivable.”
1. Shaukat bhai but you did violate the agreement you made with the IMF. You agreed to increase Sales Tax to 17% but reduced it to zero. You agreed to raise Petrol Levy every month by Rs 4 to Rs 30 but brought it to zero. You agreed to not give amnesty but gave one anyway. https://t.co/UfEe4JJfcS
— Miftah Ismail (@MiftahIsmail) October 2, 2022
He was responding to former finance minister and Pakistan Tehreek-e-Insaf (PTI) Shaukat Tarin over his remark on Twitter.
Tarin said, “We were blamed for violating IMF conditions. According to Miftah Sahib, they did not wait to get clearance from MD IMF before announcing the fuel prices. Clear double speak.”
We were blamed for violating IMF conditions. According to Miftah Sahib, they did not wait to get clearance from MD IMF before announcing the fuel prices. Clear double speak. pic.twitter.com/uFbGW6Gnu2
— Shaukat Tarin (@shaukat_tarin) October 2, 2022
On September 30, Finance Minister Ishaq Dar had announced a reduction in the price of petrol by Rs12.63 per litre and high-speed diesel by Rs12.13.
“The petrol price has been reduced to Rs224.80 per litre from Rs237.43 after a reduction of Rs12.63. Likewise, high-speed diesel price is being reduced by Rs12.13. It will now be sold at Rs235.30, [down] from the existing Rs247.43,” the minister said.
Similarly, kerosene oil’s new price will be Rs191.83 following a Rs10.19 cut and light diesel oil’s price will be Rs186.50 after a decrease of Rs10.78.
Dar said the decision to slash prices had been taken after a “detailed discussion” with Prime Minister Shehbaz Sharif.
Miftah Ismail has recently stepped down as finance minister after PM Shehbaz Sharif appointed Ishaq Dar as the new finance minister.
