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KARACHI: Former finance minister Miftah Ismail has criticized government’s decision of not increasing the petroleum development levy (PDL) this month without International Monetary Fund’s (IMF) approval, terming it “reckless”.
“Not increasing PDL this month without IMF approval is reckless, but what PTI did with our economy was unforgivable,” Miftah said while responding to former finance Shaukat Tarin on Twitter regarding his comment about the recent cut in petroleum prices.
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
“You agreed to increase sales tax to 17% but reduced it to zero. You agreed to raise petrol levy every month by Rs4 to Rs30 but brought it to zero. You agreed to not give amnesty but gave one anyway,” said the Miftah. He added that the PTI government gave an “unfunded, unsustainable subsidy on petrol”.
Tarin earlier tweeted screenshots of tickers related to Miftah, Dar’s return and cut in petroleum prices.
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
The Imran Khan-led administration is “blamed for breaking IMF requirements,” according to the PTI leader. Additionally, he asserted that Miftah had stated that the current administration “did not wait to receive authorization from MD IMF before announcing the fuel rates.”
Clear double-speak, Tarin said.