Opposition able to help authorities if it takes stand towards IMF: Shahbaz

ISLAMABAD: Leader of the Opposition within the National Assembly Shahbaz Sharif on Tuesday mentioned he is able to help the federal government if the opposition decides to take a stand towards the International Monetary Fund (IMF) within the curiosity of the general public.

Speaking throughout a session of the National Assembly, the PML-N president mentioned the federal government was “only betting Pakistan for $1 billion”.

He added that $1 billion “could be arranged to pitch with everyone”, “let’s talk about this issue in the House”.

Shahbaz mentioned if the federal government decides to face towards the International Monetary Fund (IMF) within the public curiosity, the opposition will help it.

He mentioned the opposition is able to help the federal government if it rejects the phrases of the fund.

Shahbaz underlined that Pakistan is at the moment one of the vital costly nations on the earth. Highlighting the “redundant taxes” within the Supplementary Finance Bill, he mentioned nations are decreasing taxes whereas the PTI authorities is levying further taxes.

‘We have given our help to the FATF’

Shahbaz mentioned: “I said earlier that Nero spent extravagantly while Rome was burning. Today they [the government] has proved me right. Rome is burning and Nero is playing fiddle.”

The opposition collaborated with the ruling PTI government for its removal from the gray list of the Financial Action Task Force (FATF). However, “we have been called thieves,” said the Leader of the Opposition.

The PML-N leader told the House that it was “not former prime minister Nawaz Sharif or Shahid Khaqan Abbasi who stood on the container and said that if electricity rates are raised, then the prime minister of that time is a thief”. ,

He said, ‘This was said by the current Prime Minister Imran Khan.

The opposition leader called the government “the most incompetent, lethargic and appalling government” that Pakistan has ever seen for failing on several fronts, including controlling poverty, inflation and the crisis.

‘Agriculture, industry in bad shape’

Shahbaz highlighted that the government has proposed raising taxes on exports of equipment used to treat TB and cancer patients, as well as taxes on exports of machinery for charitable hospitals.

He said that in the Supplementary Finance Bill, the government has also proposed an increase in taxes on exports of raw materials needed for the production of drugs, “which will ultimately increase the price of drugs in the country”.

Throwing light on the agriculture sector, the opposition leader said that Pakistan was self-sufficient in agricultural produce a few years back, however, due to the current government, the country is now forced to import wheat and sugar.

“How are we going to promote agriculture if they are levying additional taxes on imports of farm equipment and machinery?” he questioned.

Recalling the time when PML-N came to power, he said that during his tenure the price of urea was Rs 1,200 and today the price is around Rs 3,700.

Meanwhile, the price of DAP (Diammonium Phosphate) during the tenure of PML-N was Rs 2,400, while currently the price is around Rs 9,500, that too in the black market.

“Agriculture, industry, business and common man, all are in a dire situation,” Shahbaz said.

The PTI government had promised to build 50 lakh houses, but they “snatched away the jobs of 60 lakh people”, he said.

“The government did not lay a single brick for the construction of these long-promised houses,” he mentioned, including that the opposition is now “afraid to take the name of Riyasat-e-Madina”.

Shahbaz recalled: “During the rule of the PML-N, inflation was round 2.3% – issues have been the most cost effective throughout our tenure.”

‘PTI leader became a threat to Pakistan’

Shahbaz said the PTI leader “has change into a safety danger for Pakistan”.

“They have taxed bakery items, eggs, cayenne pepper and even formula milk; How can they claim that there will be no inflation?” he questioned.

The Leader of the Opposition mentioned that Prime Minister Imran Khan “constantly speaks about the development of children in his speeches, however, his government has not spared even the imposition of a tax on formula milk.”

‘Great distinction between the phrases and actions of the federal government’

The Leader of Opposition mentioned that earlier, “Imran Khan imported machinery for his hospital at cheaper rates, which was a good thing as patients are treated free of cost”.

Why is the federal government now taxing the import of equipment for personal and charitable hospitals, he requested.

“I was diagnosed with cancer in 2003, and only a cancer patient can understand the suffering of other patients,” he mentioned.

The PML-N chief mentioned that there’s a enormous distinction between the phrases and actions of the federal government.

“They say something else and give something completely different,” he mentioned, including that if there are truthful elections, individuals will inform the federal government the place they actually stand.

Asad Umar slams PML-N over financial disaster

Responding to Shahbaz’s speech, Federal Minister for Planning, Development and Special Initiatives Asad Umar criticized the PML-N for “leaving the country in economic turmoil”.

Speaking on the ground of the National Assembly, Omar criticized the opposition events – the PML-N and the PPP – for signing previous offers with the IMF throughout their respective tenures.

“During its terms, the PML-N has approached the IMF four times, while the PPP has approached the fund seven times, and now the opposition leaders are talking about the charter of the economy,” Omar mentioned. .

He mentioned Nawaz Sharif dominated the nation thrice however “not even once signed a charter of the economy with the opposition”.

Omar continued to criticize the opposition, saying that “if we talk to the PML-N about the charter of the economy, we will learn nothing but illicit money, corruption and money laundering.”

The minister mentioned that “Shahbaz used to call Asif Zardari a thief,” whereas his celebration used derogatory phrases for the late Benazir Bhutto.

Talking in regards to the Financial Action Task Force (FATF) determination to place Pakistan within the grey listing, Umar mentioned that the nation was added to the grey listing throughout the tenure of the PML-N.

He mentioned, “During the laws to exclude Pakistan from the FATF grey listing, the PML-N opposed this course of.

The federal minister mentioned the PML-N collected Rs 3,800 billion as tax, whereas PTI managed to gather Rs 4,800 billion in taxes regardless of being hit by the COVID-19 pandemic.

“We will also collect tax of Rs 6,000 billion this year,” he mentioned.

Referring to a clip of former finance minister Mifta Ismail wherein he talked in regards to the financial disaster within the nation, Omar mentioned: “He admitted that the economy which was titanic was sinking during his tenure.”

Umar mentioned that Pakistan’s financial system has improved by 4% attributable to PTI’s efforts regardless of the COVID-19 wave within the nation, including, “Last yr, the Gross Domestic Product (GDP) was recorded at 5%, whereas this The goal for the yr has been fastened to realize 4.8% GDP however it will likely be greater.

He mentioned that within the first six months of the present monetary yr, exports to the nation have grown by 27% to twenty-eight%, including that the nation can also be going to see a document development in remittances.