The coalition government’s choice to leave this month’s Petroleum Development Levy (PDL) intact has been dubbed “reckless” by Miftah Ismail, a former senior financial official in Pakistan.In an argument on the economic policies of the present and previous governments, he made this statement while arguing with Shaukat Tarin, a top PTI official and fellow finance counterpart.
When Miftah blamed the previous administration’s ties with the International Monetary Fund on Twitter, PTI’s finance spokesperson called out Miftah’s “doublespeak” standards (IMF). We were accused of breaking IMF rules, the tweeter wrote. Before releasing the petroleum rates, Miftah Sahib claims that they did not wait to have approval from MD IMF. Very obvious double talk.
Miftah Ismail reminded Tarin that by reducing gasoline prices prior to the no-confidence vote, his government had violated the agreement it had made with the IMF. “You consented to raising the sales tax to 17% while lowering it to zero. You committed to increase the Petrol Levy by Rs. 4 to Rs. 30 each month, but you reduced it to zero. You promised not to grant amnesty but did it anyway, he said.
He added that the previous administration had offered an underfunded, unsustainable gasoline subsidy. He asserted that the PTI almost destroyed Pakistan, but that when he took charge and went to the IMF, the nation was “saved” from going into default.
Ishaq Dar last week announced a decrease in petroleum product pricing to pass along the advantages of falling oil prices on the global market. High-speed diesel’s price was reduced by Rs. 12.13 per litre while the cost of gasoline was reduced by Rs. 12.63 per litre.
