Islamabad (Web Desk): Finance Minister Ishaq Dar on Wednesday said that Pakistan Tehreek-e-Insaf's (PTI) presentation of selective and misrepresented economic indicators is an attempt to mislead the citizens of Pakistan.
Talking to media alongside other cabinet members in Islamabad, the finance minister said that the comparisons are factually incorrect and devoid of economic context.
"The economic situation since April 2022 is strongly influenced by PTI's mismanagement of the economy in last four years and its negative effects continue to impact the economy even now," Dar said.
He said it ignores the impact of difficult international economic situation caused by commodity super cycle, Russia-Ukraine War and one of the biggest natural catastrophe 2022 floods in Pakistan.
Talking about growth, the finance minister said that investment as a percent of GDP was higher during Pakistan Muslim League-Nawaz (PML-N) government as compared to PTI tenure.
He said that the confidence of investors and their sentiments were much better during PML-N tenure than in PTI tenure.
Regarding price hike, Ishaq Dar said inflation rate during the PML-N government was 8.6% to 2.9% while in PTI tenure, maximum inflation index reached 12.2 % and minimum stood at 6.8%.
He said the government is taking policy, administrative and relief measures to control inflation.
"Despite global economic meltdown and internal devastating flood situation, value added sectors are showing positive and satisfactory growth," the finance minster said, adding that the government initiative like kisaan package, industrial support package and exports facilitation measures helped revival of activities in industrial and agriculture sectors.
About relief measures, Ishaq Dar said budgetary allocation of Benazir Income Support Programme (BISP) has been increased to Rs364 billion and the government has planned to expand the scope of BISP and increase the number of beneficiaries up to Rs10 million.
He said that the government has also included 500,000 more people from Balochistan in BISP, which would cover around 65% of the population of the province.
The minister said that the coalition government had to increase fuel prices to honour the commitments made by the PTI to the International Monetary Fund (IMF).
"The country has been brought back from the brink of default through import management, resurrection of the IMF programme and reduction in current account deficit," Dar said, adding that the friendly countries have announced their support which will help manage forex reserves in the country.
Responding to a question, the finance minister ruled out any threat of default and expressed the confidence that the country will successfully steer out from the current economic situation.