After employment, flour snatched from masses - Press Release issued by Pakistan Economy Watch.

Islamabad -- January 10, 2023 (PPI-OT)

Following is the text of press release issued by Pakistan Economy Watch (PEW)

Quote

The Pakistan Economy Watch (PEW) on Tuesday said those who claimed to serve masses have taken away the flour and jobs from the people. Those who say that the treasury is empty are wasting resources on foreign trips and luxury vehicles, it said. Instead of giving a subsidy of seventeen billion on electric motorcycles, the poor should be given a subsidy on flour, said Dr. Murtaza Mughal, President of PEW.

He said that the removal of former finance minister Miftah Ismail from office was a wrong decision and giving Ishaq Dollar the portfolio of the finance ministry turned out to be an even bigger blunder. Had Miftah Ismail was not removed, the IMF program would have been on track and the tranche would have been received in September last year.

Miftah took tough decisions to save the country and the economy would not have nosedived nor inflation would have broken all records if he was not removed, he added. He said that the policies of the former finance minister would have strengthened the rupee, reduced inflation, and millions of workers would not have been unemployed due to the closure of industries.

Dr. Murtaza Mughal said that the majority of the local business community, foreign investors and international organizations were happy with Miftah Ismail's policies. Still, a campaign was launched against him for six months which ended in his removal. People were told that after the removal of Miftah, the dollar would drop to one hundred and sixty...