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Tag: Miftah Ismail

  • Who would be Shahid Khaqan Abbasi’s pick for Finance Minister? Not Ishaq Dar

    Former Prime Minister (PM) Shahid Khaqan Abbasi has said that if he had been the premier of the country, his finance minister would have been Miftah Ismail and not Ishaq Dar.

    In an interview with a web channel, Abbasi said that Miftah Ismail had fulfilled the responsibility given to him by Prime Minister Shehbaz Sharif after the coalition government took charge.

    Abbasi was asked if the current Finance Minister, Ishaq Dar, was running the country’s economy satisfactorily. Abbasi responded by saying that history will decide the success of Ishaq Dar.

    “Whatever responsibility the Prime Minister gave to Miftah Ismail, he did it. Ministers work on the authority of the Prime Minister. He decided that Ishaq Dar should be the one to lead the finance ministry, so he brought him in. Now it is the responsibility of the Premier and the Finance Minister to play their part in fixing the country’s economy. Only history will tell how far they will succeed,” said Abbasi.

    It is pertinent to mention that Miftah resigned from the position of finance minister in September last year after Ishaq Dar returned from London and took over.

  • ‘How dare you’: Miftah Ismail gets furious at public event when asked about getting a BMW

    Former Finance Minister Miftah Ismail lost his cool and got furious at Karachi Literature Festival on Sunday when asked about allegedly obtaining a BMW when he was the minister a few months back.

    Responding to a question, the former minister responded by saying: “How can you say I had a BMW and accuse somebody like this? How dare you talk to me that I had a BMW?”

    Miftah noted that these “false” accusations led to people in jail.

    “I was in jail for five months without being guilty of anything so I don’t appreciate people telling me that I have done something wrong,” said the former finance czar.

    “My sister, wife and daughter cried when I was in jail so you should take it back,” Miftah told the person.

    Setting the record straight, the Pakistan Muslim League-Nawaz leader also said he used to drive his personal car and bear fuel expense when he served as the finance minister.

    Miftah Ismail held the post of finance minister when the incumbent coalition government took charge in April. However, he was replaced by Nawaz’s close aide Ishaq Dar in September last year. Since then, it’s been speculated that some factions within the party are not happy with Miftah.

  • ‘Fawad Chaudhry’s face shouldn’t have been covered’: PML-N’s Malik Ahmad Khan

    ‘Fawad Chaudhry’s face shouldn’t have been covered’: PML-N’s Malik Ahmad Khan

    Special Assistant to Prime Minister (SAPM) Malik Ahmad Khan has said Pakistan Tehreek-e-Insaf (PTI) leader Fawad Chaudhry should not have been presented in court with a white cloth covering his face.

    “If any kind of brutality happens with Fawad, I will condemn it. If due process is not followed, or in case of mistreatment, I will be the first one to [protest]. His face shouldn’t have been covered yesterday. They should have presented him in court openly,” said the Pakistan Muslim League-Nawaz (PML-N) leader while addressing a press conference on Thursday.

    However, Malik believed that Fawad should not have threatened the Election Commission and their families. He said that his relationship with Chaudhry spans 30 years. “The one who threatened the Election Commission of Pakistan (ECP) isn’t the Fawad I know,” said Malik Khan.

    Former Pakistan People’s Party (PPP) leader Mustafa Nawaz Khokhar tweeted that such actions by the ECP will damage the remaining reputation of the institution.

    Former Finance Minister Miftah Ismail also spoke up, tweeting, “Fawad should not have been arrested and handcuffed.”

    Stating that Chaudary was wrong to threaten ECP officials and families, Miftah said he should have instead been served a notice. “IK was wrong to jail us for months without charge only—-because we opposed him.”

    Former Chairman Senate, Mian Raza Rabbani, said that the Chaudhary’s arrest under section 124A, PPC, 1860, for sedition is unwarranted.

    The Human Rights Commission of Pakistan (HRCP), deploring the continuous use of archaic, colonial laws against sedition by successive governments against their political opponents, said that Fawad Chaudhry was the latest in the series.

    “The charges must be dropped immediately, and the government of the day must act more responsibly,” the human rights watchdog has stated.

    Supreme Court Bar Association (SCBA) also strongly condemned Fawad Chaudhry’s arrest and demanded his immediate release.

    SCBA termed his arrest a classic example of abuse of power and political victimisation.

  • ‘Rethink and reimagine Pakistan’: Politicians, bureaucrats call for political consensus

    Former Senator Mustafa Nawaz Khokhar has announced that he along with a group of politicians and bureaucrats, will be organising a series of seminars across Pakistan aimed at bringing about a “political consensus for restructuring the governance structures of Pakistan”.

    Former Prime Minister Shahid Khaqan Abbasi, former Finance Minister Miftah Ismail, Fawad Hasan Fawad, Asad Ali Shah, Haji Lashkari Raisini, Mir Humayun Kurd, Khawaja Mohammad Hoti, along with others, will be part of this effort to create political consensus.

    Khokhar tweeted, “In a nonpartisan effort, I have been talking to friends & colleagues about the current economic, political and social crisis of Pakistan which are now striking at the core foundations of the state and the society.”

    “At the same time individual and collective rights are under severe stress causing a widespread dissatisfaction of people across the regional and ethnic divides in Pakistan. These trying times require us to “rethink” or “reimagine” Pakistan.”

    Talking to The News, Khokar said, “From political uncertainty to economic meltdown to polarisation in society that has reached dangerous levels of intolerance, Pakistan is not facing just one crisis but multiple crises at the same time. Today we are at a juncture where we are actually at a ‘naazuk morr’ — a phrase that we always hear but only when powerful quarters don’t want something to be talked about”.

    Ismail too took to Twitter and said, ” I and many other colleagues are trying to bring about a national consensus on major issues. Thus we are starting with holding seminars across Pakistan.”

  • Phaddah continues: Dar is closer to Nawaz Sharif because his son is married to Nawaz’s daughter, says Miftah

    Phaddah continues: Dar is closer to Nawaz Sharif because his son is married to Nawaz’s daughter, says Miftah

    Pakistan Muslim League-Nawaz (PML-N) leader Miftah Ismail has blamed his successor Finance Minister (FM) Ishaq Dar for running campaigns against him for over six months.

    During a podcast on a YouTube channel on Wednesday, Ismail said that Dar could not tolerate anyone else from within the party as finance minister.

    Elaborating on the closeness of Dar with the Sharif family, Ismail said that Dar is closer to Nawaz Sharif because his son is married to the PML-N chief’s daughter and was with him in London. He added that Dar used to tell the PML-N supremo that he would bring the dollar rate and petroleum prices down.

    Miftah added that even though it was the PM’s right to remove him, the way it was done was not respectful. Nawaz Sharif called him to London and told him that he was being replaced in front of 12 people, revealed Miftah.

    The disgruntled former finance minister said that there is no doubt that Pakistan Tehreek-e-Insaf (PTI) Chairperson Imran Khan is a good politician and no one is close to him when it comes to political strategy and narrative building.

  • ‘I am as much part of PPP as Miftah Ismail is of PML-N’: Mustafa Khokhar

    ‘I am as much part of PPP as Miftah Ismail is of PML-N’: Mustafa Khokhar

    Former senator, Mustafa Nawaz Khokhar, calling the coalition government a “hybrid 2.0” setup announced quitting Pakistan People’s Party (PPP) after differences arose between him and the leadership over his stance on government policies.

    “I am as much part of PPP as Miftah Ismail is of the Pakistan Muslim League-Nawaz (PML-N). Let’s see where I head next from here,” Khokhar said while speaking on Geo News’ programme “Naya Pakistan”.

    “I wish the best for Peoples Party. I feel honoured to serve as a member of the party, but I am no longer a part of it,” he confirmed.

    Khokhar said if the party’s members do not talk about ongoing issues, then it would look like it’s more of a “monarchy than a political party”.

    Criticising the current coalition government, Khokhar said that what happened during Pakistan Tehreek-e-Insaf (PTI) tenure when Imran Khan was the Prime Minister, continues to happen in the present government as well.

    “We managed what happened at Sindh House. [Some were out of free will], and some were forced. But whatever happened in [Khan’s] tenure is still happening today,” he lamented.

    Taking a jibe at the incumbent government, Khokhar called it “hybrid 2.0” and noted that it was “resorting to the wrong moves” in Pakistan Tehreek-e-Insaf (PTI) Senator Azam Swati’s case — who is being transferred from one jail to another over his controversial tweets.

    Khokhar formally resigned as a senator on November 10, stressing that he would try hard to maintain his “independence”.

  • Aanay waalay dinon mein koyi barra toofaan barpa ho sakta hai: Hamid Mir

    Aanay waalay dinon mein koyi barra toofaan barpa ho sakta hai: Hamid Mir

    Senior journalist Hamid Mir has warned that all is not well in Islamabad and a big storm may hit the corridors of power in the near future.

    While speaking on Geo News’ programme Geo Pakistan, Mir said, “Maujooda haqoomti ittehaad mein sab kuch acha nahin hai aur Islamabad mein honay waali siyaasi garma garmi aanay waalay dinon mein koyi barra toofaan barpa kar sakti hai” (All is not well within the incumbent coalition government. The political heat in Islamabad could create a big storm in the coming days).

    Mir said that if Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan dissolves the Khyber Pakhtunkhwa (KP) and Punjab Assembly, then the heat in Islamabad can create a huge storm.

    He was of the view that junior coalition parties could also force Prime Minister (PM) Shehbaz Sharif’s government to hold general elections.

    Separately, differences can also be seen within Pakistan Muslim League-Nawaz (PML-N) as Finance Minister Ishaq Dar and his predecessor Miftah Ismail put forward their conflicting views on the state of Pakistan’s economy.

    While Dar argued that the country’s performance criteria are up to the mark and “complete” for the International Mone­tary Fund’s (IMF) ninth review, Ismail insisted that the default risk wouldn’t subside unless the Fund came to the table.

    Mulk mein default ka khatra hai, says Miftah Ismail

    Miftah Ismail said on Tuesday that there is still a threat of the country defaulting until the government completes the IMF ninth review. On the contrary, Dar said that he was not concerned whether the IMF team arrived or not for the ninth review, asserting that the IMF could “not dictate” the government.

    Appearing on Geo News’ programme ‘Aaj Shahzeb Khanzada Kay Saath”, Miftah rang alarm bells, stating that Pakistan is in jeopardy. “It has gone back in jeopardy and as long as IMF is not back on the table, the threat of default will remain high,” he emphasised.

    Moreover, he believed that the path Pakistan is on might take the country toward default urging the incumbent government to take steps to prevent that from happening.

    On the show, the former minister blamed Khan for the ongoing economic crisis. He said, “Khan is responsible for pushing Pakistan towards default; he is the one who broke his promise with the IMF; Khan is the one who wanted to derail the IMF programme when we tried to revive it under PM Shehbaz Sharif’s leadership.”

    When asked that the incumbent finance minister Ishaq Dar has said several times that IMF is being unreasonable, Miftah responded that first we need to take a good look at ourselves.

    “When the IMF gives you a loan, this means they are helping you out. We need to look at ourselves, why did we go to the IMF previously. Dealing with the IMF is not an easy task,” Miftah said. He reiterated that if the IMF didn’t come to the table, “It will be very difficult to save Pakistan from a default”.

    He stressed that the country needed to take action on certain matters to bring the IMF mission to Pakistan, saying that funds from neighbouring countries could only last the country for weeks.

    Earlier this month, Pakistan ended its immediate default risk when the State Bank of Pakistan (SBP) made a payment of $1 billion for sukuk bond.

  • Approaching Paris Club for funds would be my last resort: Ishaq Dar

    Approaching Paris Club for funds would be my last resort: Ishaq Dar

    The Federal Minister of Finance and Revenue, Ishaq Dar, said on Friday that approaching the bilateral Paris Club creditors for debt relief would be his final option since rating agencies lower the ratings of countries who approach the Paris Club.

    The country was not looking for or in need of any rescue from commercial banks or Eurobond creditors, according to Dar’s predecessor Miftah Ismail. “Given the climate-induced disaster in Pakistan, we are seeking debt relief from bilateral Paris Club creditors,” Miftah said.

    “We plan on doing business and investors hesitate when countries seek relief from bilateral Paris Club creditors,” Dar said during an interview.

    Dar responded to Moody’s decision to lower the Government of Pakistan’s senior unsecured debt rating from B3 to Caa1 by saying that the rating agency had taken a discriminating approach against Pakistan from a professional standpoint.

    “Our team spoke to the officials of the rating agency and even I spoke to them personally,” he continued, saying that he had advised them to stay patient for a few days.

    He bemoaned the way Moody’s had presented Pakistan as, God forbid, being in default.

    Dar stated that efforts will be made to fulfil the conditions set forth by his predecessors in reference to his meeting with IMF employees later this month.

    “I have solutions to present in front of the fund members in order to convince them of my decision regarding the petroleum prices,” he said.

    According to Geo, the government lowered the price of petrol by Rs12.63 a litre last week, which brought much-needed relief to the nation’s inflation-stricken citizens and raised concerns over the current IMF programme.

    The finance minister explained the rupee-dollar parity by expressing optimism that the value of the rupee will go below the 200-point mark against the US dollar in the upcoming days.

  • ‘Irresponsible’: Fawad Chaudhry lashes out at govt after Miftah-Ishaq clash

    ‘Irresponsible’: Fawad Chaudhry lashes out at govt after Miftah-Ishaq clash

    Pakistan Tehreek-e-Insaf (PTI) leader Fawad Chaudhry took to Twitter to comment on the conflict between new Finance Minister Ishaq Dar and his predecessor Miftah Ismail over the recent Rs12.63 per litre petrol price cut by the government.

    Chaudhry said, “The irresponsible and contradictory statements of Dar and Ismail have complicated matters further regarding the IMF programme”, adding that the federal government comprises of the “most idiotic team” in the country’s history.

    Fawad further stated that the economic team of the country is “totally confused”.

    The PTI leader claimed that “Their [govt] politics have been buried. If [the government] is working, it is working to end their NAB cases.”

    Earlier, former finance minister Ismail said that the government’s decision to not increase the Petroleum Development Levy (PDL) this month without International Monetary Fund’s (IMF) approval is “reckless”.

    While the incumbent finance minister Dar said, “I have to handle the International Monetary Fund (IMF), so from now on, neither Miftah nor anybody else has to worry about anything.”

    On September 26, Dar landed in Pakistan after five years and took the charge of the finance ministry right after Ismail’s resignation.

  • Reduction in POL prices without IMF approval is a ‘reckless’ decision, says Miftah Ismail

    Reduction in POL prices without IMF approval is a ‘reckless’ decision, says Miftah Ismail

    Pakistan’s former finance minister Miftah Ismail has called the coalition government’s decision to maintain the petroleum development levy (PDL) this month unchanged “reckless”.

    However, he maintained that what the earlier PTI administration did to the nation was “unforgivable.”

    Shaukat Tarin, the leader of the PTI and a former finance minister, had tweeted about the PMLN’s -alleged doublespeak, to which Ismail responded.

    “We were blamed for violating IMF conditions. According to Miftah sahib, they did not wait to get clearance from MD IMF before announcing the fuel prices. Clear doublespeak,” he tweeted.

    https://twitter.com/shaukat_tarin/status/1576568757056512000?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1576568757056512000%7Ctwgr%5E5e775af4ab091b03900a542aeb8050d970a7d429%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fwww.dawn.com%2Fnews%2F1713254

    Ismail replied that the PTI administration had in fact broken the terms of the IMF deal.

    “You agreed to increase sales tax to 17 per cent but reduced it to zero. You agreed to raise petrol levy every month by Rs4 to Rs30 but brought it to zero. You agreed to not give amnesty but gave one anyway,” he said, in reference to the previous administration’s decision to temporarily freeze fuel prices.

    Ismail argued that the subsidy was “unfounded and unsustainable” and that the PTI nearly put the nation into bankruptcy. He continued by saying that, while serving as finance minister, he had visited the IMF and prevented the nation’s default.

    “Not increasing PDL this month without IMF approval is reckless, but what PTI did with our economy was unforgivable,” he insisted.

    Ismail brought up the fact that his administration had not sought IMF approval before freezing the petroleum charge for the second time in two days.

    Ismail claimed that when Ahad Cheema, the establishment adviser to Prime Minister Shehbaz Sharif, requested him to contact the IMF managing director if gasoline prices could be held for three months, “I said that I would die but not ask this.” Ismail was speaking at an event in Karachi on Saturday.

    “In any case … I asked the MD if we could freeze the tax for three months. The answer did not arrive and the government unilaterally did it. So may God have mercy.”

    On Tuesday, September 27, Ismail resigned from his position as finance minister to make room for Ishaq Dar. Three days later, on Friday, the administration decided to lower petrol costs (Sept 30).

    Petrol costs now cost Rs224.80 per litre, down from Rs237.43 previously. This reduction in price amounts to Rs12.63. High-speed diesel (HSD) is now available at Rs12.13 less per litre, at Rs235.30 instead of Rs247.43. Kerosene’s cost per litre dropped from Rs202.02 to Rs191.83 by Rs10.19. Light diesel oil (LDO) was reduced in price from Rs197.28 to Rs186.50 per litre by Rs10.78.

    By lowering the petroleum development fee on gasoline by Rs5 per litre to Rs32.42, the government lost money. On HSD, the price was raised to Rs12.58 by an additional Rs5 per litre.

    According to DAWN, the government currently charges Rs12.58 per litre PDL for HSD, Rs15 for kerosene, Rs10 for LDO, and Rs30 for High Octane Blending Component. Additionally, the cost of gasoline and HSD includes a Rs22 per litre customs fee.