PTI's Fuel Subsidy Pushed Country To Bankruptcy: Miftah.

ISLAMABAD -- Federal Minister for Finance and Revenue Miftah Ismail on Saturday said that the incumbent government has saved the country from default, as the previous government of PTI had set up a fuel subsidy trap for the coalition government, which drove Pakistan towards bankruptcy.

In a series of tweets, finance minister has once again criticised the economic policies of the previous government. He shared the details of economic figures during the tenure of PTI's government. Pakistani rupee was at 122 to a dollar when Imran Khan came to power in 2018. However, currency was depreciated to Rs190 by end of previous government's tenure in April 2022. Meanwhile, the volume of public debt has also increased in the tenure of PTI government from Rs25000 billion to Rs44,000, he added.

Miftah Ismail said that Pakistan's trade deficit has also swelled to the higher level during the last year of Imran's government. 'In his last year, Pak imported goods worth $80 billion and ran the nation's highest trade deficit. In each of his 4 years he ran the highest budget deficits in our history'.

He further said that the country's energy sector performance has also deteriorated in last four years. The previous government has left the energy sector in a serious mess. With no provision or contracts for gas or fuel, the circular debt in power...