ISLAMABAD: Former finance minister and Pakistan Muslim League Nawaz (PML-N) leader Miftah Ismail has said that the International Monetary Fund (IMF) program is inevitable to avoid default risk, ARY News reported on Thursday.
While talking to the ARY News programme ‘11th House’ today, Miftah Ismail said that the IMF program is necessary to revive the national economy, otherwise, the country will be headed towards default.
The former finance minister said that the government could negotiate with the IMF if the global lending institution demands to increase taxes worth Rs800 billion. He admitted that economic difficulties are caused due to the increase in expenditures.
READ: MIFTAH ISMAIL CLAIMS PAKISTAN’S DEFAULT RISK HAS INCREASED
Ismail said Pakistan could technically face default if IMF rejects to come back to the program. He claimed that Pakistan is facing the consequences of several wrong decisions.
Criticising the previous Pakistan Tehreek-e-Insaf (PTI) government, Miftah Ismail said that Imran Khan is the father of the default and he was solely responsible for the deteriorated economic situation. He added that the wrong decisions taken by the past government destroyed the national economy.
To a question, the politician replied that he is still part of PML-N and lawmakers are in contact with him. He added that he has been directly contacted by Prime Minister Shehbaz Sharif and he never delivered any negative statement about him.
READ: ‘FALSE NARRATIVE’: ISHAQ DAR ASSURES PAKISTAN WILL NOT DEFAULT
He said that Shehbaz Sharif is aware of the differences between him and Ishaq Dar. Ismail blamed Dar for having differences with him and organised programs against him.
Ismail clarified that he will respond to the criticism against him. “I am still part of my party and always will be. I have no intention to join another political party. If PML-N keeps me, then I will stay with my political party.”
He criticised that the portfolio of the finance minister was taken away from him in an inappropriate way. “I had been summoned to Suleman Shehbaz’s residence in London and told that my ministry will be taken back. It would be better to take me in confidence first.”