“Pakistan to face difficult times ahead,” says PM amidst economic crisis 

Islamabad: Prime Minister Shehbaz Sharif Thursday stated that Pakistan could still face difficult times ahead due to the inherited inefficiency of the previous government—amidst efforts to steer out of the ongoing economic crisis.

While addressing senators of Pakistan Muslim League-Nawaz (PML-N), the Premier said that prices of oil and gas in the country will be as per international market. 

He said that the coalition government had finalized the deal with the International Monetary Fund (IMF)—reiterating that Pakistan will honor its commitments with the global lender.  

Criticizing the Pakistan Tehreek-e-Insaf (PTI) government, Shehbaz Sharif said that Imran Khan did not honor its commitments to international lender, owing to which now nation is suffering. 

“The previous government had struck the deal with IMF to pass on the international prices of oil and gas; and imposition of the petroleum development levy (PDL),” he stressed, adding that IMF was pressurizing them to implement the pact. 

Imran Khan, knowing he would lose the no-confidence move, slashed the fuel prices despite the oil prices being record high in the global market at that time, said Prime Minister. 

This abnormal imbalance left the country in a difficult economic situation, he said.

Shehbaz added that the government would increase or decrease the fuel prices according to oil rates in the global market.

Former Punjab Chief Minister, then, said that the conditions with the International Monetary Fund have been finalized which will close soon.

He added, “Some coalition partners initially wanted to go for the elections, however there was no consensus on it”. 

“Now, there is consensus on completing the tenure despite the challenging circumstances,” he added. 

The prime minister said the PTI government had no empathy for the common man as it ended several projects of Pakistan Muslim League-Nawaz (PML-N) tenure that were aimed at public welfare.  

He said the forefathers of the sub-continent had rendered immense sacrifices to establish a separate homeland to lead a comfortable life.

“During 73 years, all governments including civil and military, could not help this dream get materialized,” he stated.

PM Sharif said China, Saudi Arabia, UAE, and Qatar always supported Pakistan in difficult times besides siding at the diplomatic level.

He mentioned that the recent $2.3 billion loan from China was a respite in the current trying times.

For the first time in history, he said a genuine tax was imposed on the net income of affluent persons to provide relief to the poor who were the real builders of Pakistan.

Also, to reduce the burden on the poor segments of society, Rs 2,000 stipend was announced to provide them relief, he added.

He termed it a political and religious obligation of the rich to accommodate the deserving people and contribute to the prosperity of the nation.

He said in the next few days, he would address the nation to take them on board regarding the steps taken by the government to improve the economic situation.