Imran warns of skyrocketing inflation after mini-budget

LAHORE (INP): Former premier and Pakistan Tehreek-e-Insaf (PTI) chairman Imran Khan on Wednesday warned of skyrocketing inflation after the federal government tabled Finance Bill to the National Assembly (NA), which is also called mini-budget, for imposing new taxes.
While addressing the PTI workers via video link today, Imran Khan said that a mini-budget was presented in the NA which will increase the financial burden on the nation. He warned the nation of bracing for another wave of inflation after the mini-budget.
Khan said that he has already warned about the situation the country is facing today. He continued that he has asked everyone that elections are the only solution to all issues after the ouster of the PTI government. “Only a government holding public mandate can take difficult decisions to end crises. The new government cannot resolve the issues. Economic stability is impossible without political stability.”
He criticised that the ‘gang of thieves’ were imposed on the country which prioritised the dissolution of their corruption cases and targeted PTI leaders. Khan said that the economic woes will intensify even if Pakistan manages to sign an agreement with the International Monetary Fund (IMF).
He said that the default risk was only 5% during the PTI government. He added that the Fitch rating agency downgraded Pakistan’s long-term foreign currency issuer default rating (IDR) to ‘CCC-’ from ‘CCC+’ and compared the economic situation of Pakistan with Sri Lanka. Khan slammed the ruling Pakistan Democratic Movement (PDM) parties for doing nothing to control inflation. He said that PDM parties had organised massive anti-inflation rallies against the PTI government but they are now failed to stop the skyrocketing inflation.
He said that gas and electricity prices will further increase after the mini-budget. Moreover, the government also hiked the sales tax which will increase the prices of all commodities. He said that farmers should brace for more financial hardships as the government ends subsidies on power tariffs for tube wells. He said that the inflation rate was standing at 12% during the PTI government which is now soared to 30% and is hiking day-by-day. Imran Khan said that the current rulers do not have any plan which led the country to more crises.