Finance Minister Miftah Ismail has hinted at his early departure, stating that even though the coalition government has 13 months left, he might not have that long. This comes amid discontent inside the current coalition government of Pakistan, led by Shehbaz Sharif. His remarks came amid internal divisions within the Pakistan Muslim League-Nawaz (PML-N) on the administration’s policies.
The finance minister spoke extensively on politics, the national growth strategy, tax collection, the growing population, and other significant challenges impeding economic stabilisation during his speech at an event at Karachi’s Institute of Business Administration (IBA), according to Geo News.
Ismail added, “The government has 13 months, but I might not have that much time.”
Notable members of Pakistan’s new coalition government include the PML-N, Jamiat Ulema-e-Islam-Fazl (JUI-F), and the Pakistan Peoples Party (PPP). In addition, Pakistan’s economy is in shambles due to record-high inflation. According to party vice president Maryam Nawaz, PML-N leader Nawaz Sharif recently departed a cabinet meeting over a dispute over the price of gasoline and voiced resentment at the minister for raising the price of fuel.
Nawaz Sharif was not happy with the PML-N leader’s narrative, saying that Prime Minister Shehbaz Sharif should personally reach out to the populace to explain the policies of the government and the causes of inflation, according to senior journalist Suhail Warraich, who met the PML-N leader in London.
The former premier, “very unsatisfied with Miftah Ismail, believes only Ishaq Dar can strengthen the devastated economy of the country,” he told Geo News.
In addition to the dissatisfaction with his performance inside the party ranks. According to the legislation, after serving as a minister for six months, a person must run for election as a senator or MNA.
Miftah Ismail remarked during the IBA event that the administration made difficult choices under trying circumstances since reviving the IMF loan programme was their top goal.
“Shortly after taking office, we approached the IMF, and our wise measures prevented Pakistan from defaulting.”
He said that after signing a deal with the Washington-based lender, the Imran Khan-led PTI government broke its obligations by declaring subsidies on petroleum goods.
According to Geo News, the finance minister bemoaned the nation’s population growth rate of 2.4%. He said that he feels embarrassed asking for loans and claimed that Pakistan “has not defaulted and would never fail.”
He said, “In Pakistan, no one likes to pay tax.” He said that the tax net’s coverage was expanding and that the business class was now included. Ismail said that the nation has seen widespread destruction as a result of flash floods.
In order to help the affected individuals, “Rs 28 billion had been disbursed under Benazir Income Support Programme in a transparent way,” he stated.
According to Geo News, he stated that impacted households are first receiving a transfer of Rs 25,000 so they may satisfy their food supply demands. The flood victims “will not be abandoned in this trying time and will be paid utilising all available resources, even if it means diverting Public Sector Development Programme (PSDP) funding for their rehabilitation,” the finance minister promised.