Hints at tougher decisions if required; Cabinet also approved issuance of Sukuk bonds; Appreciates Army Chief’s effort to achieve FATF targets
Ijaz Kakakhel Islamabad
Prime Minister Shehbaz Sharif on Tuesday claimed that the government was trying its best to provide relief to poor and tax on rich but vowed to make more “difficult” decisions if needed.
Talking to journalists after cabinet meeting, the Prime Minister said that in the budget for the fiscal year 2022-23, the ruling coalition government had decided to redistribute the economic burden on the poor by taxing the rich. The premier again blamed the previous PTI-led government’s poor performance for the deteriorating economic conditions. “The previous government reduced the price of petrol and laid a trap for the next government,” he said, adding that the economic conditions are worsening across the world as commodity prices are rising.
PM Shehbaz revealed that the current coalition government is giving Rs2000 to 700 million deserving people and that the government has imposed taxes on the rich people in the budget for the next fiscal year 2022-23.
“The previous government did not work for the betterment of the people of the country and also breached the agreement signed with the International Monetary Fund (IMF),” he said, assuring the journalists that despite all the hurdles the government will bring Pakistan out of the difficult phase. The premier, during the cabinet meeting said that the government raised the prices of petroleum products in line with the rising international prices. He hoped that their talks with the IMF will be fruitful and vowed to overcome the ongoing economic crisis soon. The prime minister hoped that those who were privileged would “gladly” lend their support to the country at this critical juncture and demonstrate a spirit of “sacrifice”. “The government will collect hundreds of billions of rupees in taxes through this,” he added. The prime minister reiterated that the government had come into power during challenging times and had taken difficult decisions. “We will not hesitate to take any step which could help strengthen the economy.” PM Shehbaz said that the government had no other option than to take tough decisions, lashing out at the PTI for “violating” the agreement it had signed with the International Monetary Fund (IMF). The premier also said the country was suffering and witnessing a crisis due to the imprudent economic policies of the former PTI government.
The cabinet appreciated the efforts of Pak Army Chief General Qamar Javed Bajwa to achieve the targets of the Financial Action Task Force (FATF).
Prime Minister Shehbaz said that it was due to the joint efforts of all institutions that we were able to come out of the grey list of the international financial watchdog. The federal cabinet has deferred Rs7.99 per unit increase in the basic tariff of electricity. The premier also directed all ministers to attend parliament sessions regularly. Meanwhile, Railways and Aviation Minister Khawaja Saad Rafique opposed transfers and postings on a political basis and said that the focus should remain on doing good work.