Imran's deal with IMF and its violation reason for rise in inflation: Miftah Ismail.

ISLAMABAD -- Finance Minister Miftah Ismail on Friday blamed PTI Chairman Imran Khan's deal with the International Monetary Fund (IMF) and its violation as the reason for the rise in inflation.

Berating the PTI-led government, the finance minister, in a statement, said that the subsidy on petrol has put a strain on Pakistan's economy.

"There has been a loss of Rs120 billion this month and no government can bear such a huge deficit," he said.

He added that it is not an easy task to stabilise the economy that Imran Khan has left behind in shambles. "There is a difference between the petrol prices in the world market and the selling price in Pakistan," added Ismail.

The finance minister said that the petrol subsidies are the reason for the rise in inflation and the turmoil in the market. "If the government gives subsidies without having money, then it has to take more loans, increasing the interest rates, and putting pressure on the rupee," he said.

The PML-N said that the former premier took the "biggest loan in the country's history during his tenure, which was 80% of the total debt of 71 years.


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