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Ishaq Dar is guiding government in managing economic crisis: Rana Sanaullah

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  • Sanaullah says PTI govt signed a deal with IMF which was not in favour of Pakistan.
  • He says Dar aware of situation Pakistan currently facing at economic forefront.
  • He says PTI-led government “ruined economy” and it was now difficult to manage it.

ISLAMABAD: Interior Minister Rana Sanaullah Tuesday said that the incumbent government was seeking guidance from PML-N’s “financial guru” Ishaq Dar to manage the ongoing economic crisis.

Speaking to Geo News’ programme  “Geo Pakistan”, the interior minister said that Dar was aware of the situation Pakistan was currently facing at the economic forefront. 

During the initial days of the coalition government, Dar, who is based in London along with PML-N supremo Nawaz Sharif, was very active and regularly appeared on TV shows, giving his input on the economy which sparked a debate about who was heading the finance ministry — Miftah Ismail or Dar.

The country is facing a crisis amid a delay in the revival of the International Monetary Fund’s (IMF) $6 billion loan facility stalled due to policy breaches by the previous government.

Sanaullah said that the PTI government signed a deal with the IMF which was not in favour of Pakistan.

“They [the PTI-led government] agreed to remove all sorts of subsidies despite the fact that the financial condition of our people was not such that they could tolerate more financial burden. They promised zero subsidies on petrol with IMF.”

He said that the incumbent government was reviving the same agreement which the PTI signed with the lender, adding that the PTI-led government “ruined the economy” and it was now difficult to manage it.

“They used to criticise Dar for controlling the dollar rate and when the PTI government came to power it shot up to Rs190 from Rs115. During our two-month tenure, it has ascended further,” the interior minister said.

The minister added that the IMF was not ready to show any flexibility and the dollar rate was increasing due to the delay in the agreement.

“We told the IMF to allow us to remove subsidies in phases but it refused. We will bring down the dollar to 182 after the loan programme is restored,” he claimed. 

On the PTI’s countrywide protest call on Sunday against inflation, Sanaullah maintained that the masses are keeping themselves away from the protest.

“Last time, from among a population of 220 million, only 10,000 to 12,000 responded to Khan’s call,” he said. 

The minister asked the PTI to admit its mistake and sit with the government to talk about an economic pact. 

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Gold prices in Pakistan approach an all-time high.

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Following a substantial surge the prior day, gold prices in Pakistan are ascending to unprecedented levels with an additional gain on Thursday, coinciding with a rise in global precious metal rates.

The price of 24-karat gold in the local market rose by Rs700 per tola, reaching Rs277,900, as reported by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

Likewise, the cost of 10 grams of 24-karat gold increased by Rs600, currently priced at Rs238,254.

Globally, gold prices exhibited an upward trend, increasing by $7 throughout the day. The APGJSA reports that the international gold price was $2,682 per ounce.

Notwithstanding the increase in gold prices, the silver market exhibited stability, with the price of silver maintained at Rs3,050 per tola.

In the previous month, gold prices in Pakistan reached an unprecedented high of Rs 277,000 a tola, driven by substantial gains in the worldwide market.

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A further relief shipment from Pakistan departs for Gaza and Lebanon.

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Following the Prime Minister’s directions, the National Disaster Management Authority (NDMA) persists in delivering humanitarian assistance to the war-affected populations of Gaza and Lebanon.

The second cargo of supplies was sent from Karachi to Lebanon today.

The relief package, dispatched by the NDMA in partnership with the Al-Khidmat Foundation, consists of roughly 100 tons of provisions, including pharmaceuticals, ready-to-eat meat, tents, tarpaulins, thermal bedding, winter apparel, and powdered milk.

The assistance was sent by air from Jinnah International Airport in Karachi to Beirut, Lebanon.

The farewell ceremony at Jinnah International Airport was attended by representatives from the NDMA, the Ministry of Foreign Affairs, the Al-Khidmat Foundation, and local authorities.

The delegates underscored the pressing necessity to deliver assistance to the war-affected populations of Palestine and Lebanon, in light of the continuing conflict and the requirements of the impacted communities.

They reiterated the Government’s dedication to assisting their compatriots in need and emphasized the significance of cooperation among welfare groups and the Pakistani populace in enhancing these initiatives.

This constitutes Pakistan’s twelfth aid shipment to Palestine and Lebanon. Previously, ten relief shipments were dispatched to Palestine.

The Government of Pakistan persists in dispatching relief supplies according to the need of the war-affected populations in Lebanon.

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Speech Made by Pakistan’s Prime Minister on the International Day Against Poverty

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In renewing our commitment to a world where no one is left behind and where possibilities for success are unrestricted by one’s origin or circumstances, Pakistan stands together with the global community on this International Day for the Eradication of Poverty. In addition to being morally right, ending poverty is essential to attaining sustainable development and guaranteeing everyone’s peace and prosperity.

The people have always been the center of every policy made by our government. We have significantly reduced poverty and made sure that our most vulnerable residents are taken care of thanks to our social safety net programs. We think that providing long-term routes to economic empowerment is equally as important as providing instant relief when it comes to assisting people in escaping poverty. Our focused initiatives seek to equip communities—women and children in particular—with the means to create better futures for themselves.

The Pakistani government is steadfast in its commitment to improving the affordability of living for its citizens despite the obstacles we face on a global scale, such as inflation and economic instability. Our policies are designed to build long-term economic resilience, from meeting housing needs to guaranteeing food security. With the help of programs like the PM Youth Business, Agriculture Loans, Digi-Skills, which offers free IT training, and the Pakistan Education Endowment Fund, millions of families are receiving financial support and technological help that is changing their lives.

Eradicating poverty is also a top priority for Pakistan, which is still fully committed to reaching the 17 Sustainable Development Goals (SDGs). With a focus on inclusive growth, education, healthcare, and environmental sustainability, we will keep working together with our international partners to achieve these goals. The advancements made in empowering women and guaranteeing that their contributions are essential to the country’s social and economic fabric are another reason for pride.

On this day, I would want to express my sincere gratitude to everyone who is devotedly striving to end poverty, both in Pakistan and globally. We can create a future where everyone, regardless of circumstances, has the chance to flourish and succeed by uniting with a shared purpose and unwavering determination.

I speak on behalf of the Government of Pakistan to reiterate our steadfast commitment to this cause and to extend an invitation to all facets of society to work with us to create a world that is more wealthy, just, and inclusive.

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