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Can Pakistan afford to hold elections? Defence Minister Khawaja Asif answers
Addressing global media at a joint press conference, Pakistan Defence Minister Khawaja Asif stated the finance ministry has no budget for elections, ARY information reported.
Cash-strapped Pakistan is expecting a much-needed $1.1 billion tranche of investment from the Washington-primarily based totally international cash lender, which turned into firstly because of be distributed in November remaining yr. The us of a is dealing with a main financial disaster and is grappling with excessive outside debt, a susceptible neighborhood forex and dwindling forex reserves.
Pakistan has applied a chain of coverage measures together with extended taxes, lifting subsidies, better strength fees, devaluing rupee and growing hobby fees to the best in 25 years as preconditions for the settlement to free up the IMF investment.
FUEL-PRICING SCHEME
Recently, Pakistan Prime Minister Shehbaz Sharif introduced that the authorities could price prosperous clients greater for gasoline. The cash raised could be used to subsidise fees for the poor, who’ve been hit difficult via way of means of inflation.
But the IMF says it wasn`t consulted earlier than pronouncing the scheme and has now demanded an evidence earlier than signing the settlement.
The plan entails a distinction of round a hundred rupees (35 U.S. cents) a litre among the fees paid via way of means of the wealthy and poor, in line with the petroleum ministry, Reuters reported.
Petroleum Minister Musadik Malik advised Reuters that his ministry turned into running out details. It turned into now no longer a subsidy however a alleviation programme, he stated.
“People with large automobiles pays greater than human beings with smaller automobiles. Smaller automobiles are greater gasoline green, so human beings will pass in the direction of greater gasoline-green automobiles,” Malik stated.
IMF DEMANDS EXPLANATION
But the IMF’s resident consultant in Pakistan, Esther Perez Ruiz, stated the authorities had now no longer consulted the fund approximately the scheme.
Ruiz, in a message to Reuters, showed a media record that a staff-degree settlement could be signed as soon as some closing points, together with the gasoline scheme, have been settled.
Pakistan has just $4.6 billion in forex reserves in its primary bank. It is determined for an IMF settlement to disperse a $1.1 billion tranche from a $6.five billion bailout agreed in 2019.
Pakistan’s defence minister Khawaja Asif hit out at former Pakistan PM Imran Khan and stated his assassination strive allegation is a lie.
Khawaja Asif blamed the PTI chairman for imprisoning the PML-N leaders all through his tenure. Khawaja Asif stated that he turned into jailed all through his 3-yr tenure and our celebration chief additionally confronted the courts in faux cases, the record stated.
