Zubair Ahmad

ISLAMABAD, JUN 21 (DNA) – Finance Minister Shaukat Tarin has Monday said while addressing on the National Assembly floor that the reason for resorting to IMF bailout was to avoid insolvency due to financial crises accumulated from the past governments.

He said the budget for the fiscal year 2022 is for the benefit of everyone and it ensures small to medium loans to people to help the industries and production grow.

I know the shortcomings of the past governments and thus I don’t need to be schooled on this matter, Tarin claimed today in the assembly, adding that printing currency notes is in no way the solution to avert the crises.

The finance minister said that Prime Minister Imran Khan has taken steps that have in principal benefitted the economy. He said the strategy right now is to cater to the needs of everyone including the poor-income class.

He disputed the assertions by the opposition of 25 per cent inflation in the country at present. They need to stop lying about inflation which stands at 11 pc and not 25 pc, he said. Tarin said the country imported 70 pc of its pulses adding to import bills that the economy has to bear.