Karachi (May 18, 2023): Former Finance Minister Miftah Ismail has said that Pakistan is facing a very bad time economically and we do not have money to pay installments of loans. We have to go to the IMF program, if we don’t go, we will default and no one in the world will give us loans. The truth is that most of the problems are self-created. Pakistan has reached this point due to its own mistakes. It will take time to get out of the economic vortex. He expressed these views while talking at the Meet the Experts – Pakistan’s financial crisis and the financial year 2023-24 budget pre-session held at Salim Habib University in Karachi.
Former Finance Minister Miftah Ismail further said that the government is unaware of the true extent of the ongoing economic emergency because “Pakistan has been facing a crisis persistently”. Ismail stressed that the International Monetary Fund (IMF) was not the root of Pakistan’s economic problems, but it was “rather the successive leaderships of the country”. Pakistan should not have been where it is standing; Bangladesh was separated due to our mistakes and Ayub Khan’s wrong policies. Two million shopkeepers pay 30,000 tax. The former Federal Minister of Finance said that more economic problems will come in the country and we have to learn from these problems. It is very important to educate children for the betterment of the country, i.e. proper education. Pakistani children fail in mathematics and science subjects, so how will the country run?
On this occasion, he appreciated the services of Dr. Habib Chairperson and Dr. Iram Afaq Chancellor Salim Habib University for providing quality education. Salim Habib Education Foundation CEO Mohammad Abbas, Vice Chancellor Dr. Shakeel Ahmed Khan, Director Education Dr. Muhammad Hussain Habib and Registrar Dr. Kaleem Raza Khan and prominent business and social personalities participated in the seminar.
