PTI Chairman Imran Khan bitterly criticised the PDM government for ‘historic’ inflation on Thursday, adding that Pakistan was paying the price for ‘regime change conspiracy’.
“Pakistanis paying heavy price of regime change conspiracy where a bunch of criminals have been foisted upon nation by ex COAS,” he wrote.
He added that the rupee has lost 62% of its value, public debt has risen by Rs14.3 trillion while the inflation rate of 31.5% is a 75-year hight.
His remarks come as the State Bank raised its interest rate to 20%, the highest since 1996 in order to control the historically high inflation. Fuel prices, electricity rates and the dollar’s rate against the rupee are also at an all-time high.
In response, Maryam Nawaz told the PTI chief that the current government was simply undoing the mess created by the PTI government through “plunder, incompetence, misplaced priorities”.
“Mighty audacious of you to criticize those who’re undoing your mess,” she wrote.
She also said that it the ‘cruel deal’ Imran Khan’s government had signed with the IMF and its ‘breach’ was the problem behind the economic conditions of the country.
Pakistan is trying to revive the IMF program and looking towards friendly countries for aid to shore up its forex reserves as inflation and fuel prices keep climbing.
Pakistan is not on the verge of defaulting on its loans, the finance minister said onThursday, adding that the government expected to sign a staff-level agreement with the International Monetary Fund by next week.
“Anti-Pakistan elements are spreading malicious rumours that Pakistan may default. This is not only completely false but also belie the facts,” Ishaq Dar said on Twitter.
“Our negotiations with IMF are about to conclude and we expect to sign staff level agreement with IMF by next week. All economic indicators are slowly moving in the right direction.”
