Former Finance Minister Shaukat Tareen has said that it is not known where the economy is heading, the captain of the ship has to be strong otherwise the ship will not move forward, we have to tell the IF what he is doing with the world. And what is happening to us?
Speaking on a private TV program, Shaukat Tareen said that this government made mistakes from the very beginning, drowning the economy by raising interest rates at 13 percent and Rs 165 dollars, then electricity, gas and petrol. By raising prices, demand has increased and inflation and unemployment have skyrocketed. Negotiations did not go well in the beginning. Now we have to look after our national interest. The way the government raised interest rates in 2019 even more than the IMF said. And by re-profiling loans at high interest rates, it has broken our backs, it has put an annual interest burden of over Rs 1,500 billion. It will have to suffer in the years to come. There is no direction in which the economy is heading. An Economic Advisory Council is being formed with the Prime Minister as Chairman and I am coming as Convener.
"The Economic Advisory Council is being formed and it will be its convener. In the beginning, we made a mistake in negotiating with the IMF. Before negotiating with the IMF, we have to look at the national interest. The government needs to fix its own house," he said. , Homes have not been repaired in two and a half years? When we fix our house, the IMF will also listen to us. Shaukat Tareen said that no one in the capital model Pakistan government has taken any responsibility for fixing the damaging institutions, the people of the private sector. The government cannot do this, the laws have to be changed to protect the private sector from the NAB.
The former finance minister said that the current wave of Corona is severe, decisions regarding the economy will have to be taken in the national and public interest, raising tariffs on non-receipt of revenue will increase corruption.
