PML-N, PTI blame each other for skyrocketing foreign debt – Henry Club

After two days budget The PML-N and PTI, formally introduced in the National Assembly, continued to focus on each other’s economic performance and Pakistan’s external debt position on Sunday.

Earlier today, Information Minister Maryam Aurangzeb took to Twitter to share a video clip of the news package featuring former Finance Minister Shaukat Tarin.

clip a. was Press conference Tarin held yesterday, in which he said: “They (government) say since Pakistan was created, they (PTI) have increased debt by 80 per cent. It has not increased by 80 per cent. [four] years [of PTI rule]It increased by 76 percent.”

“Finally, Shaukat Tarin admitted that Imran Khan took a loan of Rs 20,000 billion during his four-year tenure, which is 76 per cent of the loan taken in Pakistan’s history,” he said. will follow.

Finance Minister Miftah Ismail then said: “The total public debt under PTI increased from Rs 24,953 billion to Rs 44,366 billion, a growth of 78 per cent. And the total debt and liabilities increased from Rs 29,879 billion to Rs 53,544 billion, 79 percent of all debt + liabilities added in the last 71 years, added in 3.75 years.

PTI’s Fawad Chaudhry replied to Aurangzeb saying that when she spends all her time “playing Candy Crush” – a mobile phone game, she was bound to make such lewd remarks. Yesterday, he claimed that the government was not serious as Aurangzeb was “playing video games” at the time. post budget press conference,

In another tweet today, Choudhary said the PTI government took a loan of $52 billion, of which $38 billion was to repay the debt taken by the previous governments. “If you don’t like the agreements made with the International Monetary Fund (IMF), why does the poor government go to the board?” He asked.

In a subsequent tweet, he gave details of Pakistan’s external debt, saying it stood at $45bn from 2008-09, $70.5bn from 2018-19 and $88bn by March 2022.

Meanwhile, Tarin said the economic performance of PTI in the last two years was the best in 30 years. “Stop deceiving people, they know the truth. Your performance in the last eight weeks is frank, pathetic,” he said.

He further said that the former government was on track to accelerate economic growth “on an inclusive and sustainable basis despite high international commodity prices”.

“I don’t know why we were displaced,” the senior banker said.

In a subsequent tweet, Tarin claimed that PTI’s debt grew by 76 per cent “despite Covid when the tax burden increased across the globe”, with the PML-N increasing debt by 79 per cent during his time. . ,

economic survey of pakistan disclosed that total external debt had reached $88.8bn (Rs 16.29 trillion) at the end of March 2022, rising to nearly $2.3bn in the first nine months of the outgoing fiscal year.

‘Budget represents significant reforms’

Prime Minister Shahbaz Sharif said the budget represented a “significant reform” in many ways.

He said, “It has provided more educational opportunities to our youth especially from Balochistan and targeted subsidies for the economically weaker sections. More importantly, it taxed the non-productive assets of the rich Is.”

On the other hand, PTI President Imran Khan still could not believe it. “Keeping in view the special needs of the tribal districts, my government had tripled their funding to Rs 131 billion. The imported government has budgeted only Rs 110 billion, shortfall in development funds, zero allocation for the displaced. And zero growth in the current budget. Shows incompetence and bad intentions. Badmaash ki sarkar ki ki sarkar,” he said.