ISLAMABAD: Federal Minister for Finance and Revenue Senator Muhammad Ishaq Dar on Sunday said that strict financial discipline was needed to achieve economic stability in Pakistan, without which the economy would not grow.
While addressing the two-day “Bacha Khan, Wali Khan and 21st Century” Conference in Islamabad, he said the recent economic challenges and inflation were due to the poor financial discipline of the former government of Pakistan Tehreek-e-Insaf (PTI).
Finnace Minister Mohammad Ishaq Dar addressed "Bacha Khan,Wali Khan & 21 Century"Conf and paid tributes to struggle & sacrifices of Bacha Khan and emphasized need for true implementation of principles of humanity and complete elimination of terrorism from our beloved Pakistan. pic.twitter.com/jSjd4IfNAr
— Ministry of Finance (@FinMinistryPak) January 29, 2023
Ishaq Dar said the solution to the current challenges of the country lies in the promotion of the constitution, democracy, education, non-violence, and dialogue, which was the philosophy of legendary leader, Abdul Ghaffar Khan, known as Bacha Khan.
He said that Bacha Khan fought for non-violence and democracy all his life and his struggle continues even today.
He said that big decisions are needed to get the country out of the crises and to bring economic stability to the country.
The minister said: “We fought the war of terrorism with our own resources and provided our abundant resources for it and will continue to do so in the future. The principle and ideology of our politics are to serve the people and our government is committed to it.”
Ishaq Dar said the Pakistan Muslim League-Nawaz government had left the gross domestic production (GDP) growth at above 6 percent in 2018. “We left the GDP at $356.8 billion with an increase of $122 billion. During our previous government, international rating agencies were predicting Pakistan to join the G20 by 2030,” he added.
The minister said, “We had a choice to save the country or our politics, but we sacrificed politics for the sake of the country.”
He said the per capita income was $1,798 during the PML-N previous government, which went to $1,768 in the PTI government.
He said the inflation rate was 8.6 percent in the former PML-N government, which came to “double digits during the PTI era. Along with this, he added, food inflation was just two percent during the last PML-N regime, which reached 12 percent during the PTI’s tenure.
Earlier in the day, Finance Minister Ishaq Dar announced an increase in petrol and diesel prices by Rs35 per litre effective immediately.
The finance minister maintained that kerosene oil and light diesel oil prices were being jacked up by Rs18 per litre.
Following today’s hike, petroleum is to be sold at a rate of Rs249.80 per litre, while diesel prices have been raised to Rs262.80 per litre. Kerosene oil will be available at Rs189.83 per litre while light diesel oil will cost consumers Rs187 per litre.
