Wheat flour and sugar crises: PML-N accuses Tareen, Bukhtiyar of minting Rs 40 billion

Pakistan Muslim League (PML-N) on Friday accused Jahingir Tareen and Federal Minister for food and agriculture Khusro Bukhtiyar of making Rs 40 billion from wheat flour crisis and sugar crisis.

Addressing a press conference here on Friday, PML-N leaders Zubair Umar, Musadiq Malik, Dr Ayesha Ghaus Pasha and Qaiser Sheikh said mafias are sitting right and left of the Prime Minister Imran Khan but he is unable to take action against them because his continuity in power is totally dependent on those involved in wheat flour and sugar crisis.

Zubair Umar said that the way Pakistan Tehreek-e-Insaf led government is managing the economy if it continued for another few months it will become unmanageable and unsustainable.

He added that during PML-N government all the economic indicators excluding current account deficit were well managed, saying that current account deficit was a result of massive public spending on installing of power projects which were core part of the PML-N election manifesto.

He maintained that PTI government has ruined the national economy, saying that his party has decided to highlight plight of the national economy on every forum including parliament. He said that wheat flour crisis is purely corruption as Jahingir Tareen and Khusro Bukhtiyar with 45 percent share in sugar industry sitting right and left of Imran Khan are responsible for both the crisis. Moreover, Zubair Umar said that PTI is a problem and the party couldn't resolve economic problems.

Speaking on the occasion Dr Ayesha Ghaus Pasha said that besides incompetent of the present government increase in gas, power, increase in indirect taxes, depreciation of Pak rupee and budget deficit have played key role in hiking of the inflation. She said that over the past one year the government took 1.293 trillions local loans at 13.25 percent interest rate, as a result spending on debt services has gone from Rs 1.5 trillion to Rs 3.5 trillion which also resulted in decline in GDP growth from 5.8 percent to 2.5 percent. She further said that during the period exports didn't increase, unemployment increased, inflation is going up and agriculture outputs are also declining. For the first time in the history of Pakistan tax collection targets have not been met, the government revised down tax collection targets from 5.5 trillions to 5.2 trillions but still tax targets are not achievable.

Dr Musadiq Malik said that for a common person economy only means availability of jobs for him and easy access to daily use items, adding that due to present government policies 1.2 million Pakistanis have lost their jobs.

In rural areas inflation is 25 percent, while in urban areas inflation is 20 percent, while inflation of perishable goods stands at 78 percent. He said that poor people now are unable to purchase pulses and vegetables let aside eating beef and mutton.

He said that in February 2019 the government came to know that wheat production will remain 30 percent below the target, despite this the government decided to export wheat which created wheat flour crisis but government kept on exporting wheat up to October. He said wheat flour crisis is not a result of wheat smuggling but deliberate corruption by the government functionaries.

He said that at present government was melting down and the government was all set to bring a mini budget on the dictations of the International Monetary Funds. He added that the government was getting Rs 28 billion loans from local banks, which is playing havoc with national economy.

Member National Assembly Qaiser Sheikh speaking on the occasion said traders are all set to observe countrywide protest on February 10 against government tax measures which has brought commercial activities to standstill position. He said that due to increasing inflation real income of the people has reduced, moreover people have lost jobs and budget deficit of 9.5 percent has further deteriorated the economic situation. He said that globally petroleum products prices have declined by $12 per barrel but the government of Pakistan instead of passing on benefit to the masses has kept the price unchanged.

Responding to a question about external and internal loans, Dr Pasha said that over the past one year the government borrowed Rs 12 trillions of loans of which 4 trillions went on account of rupee depreciation, Rs 3.5 trillions budget deficit and Rs 1.3 trillion government kept in treasure which were borrowed at 13.25 percent interest rate without knowing the implications of massive loans. Dr Malik responding to a question said that his party will ask the government who managed to pocket Rs 40 billion from wheat flour price increase and sugar price increase.