In an attempt to slam Shehbaz Sharif's government, former Pakistan Prime Minister Imran Khan recently made a blunder. While addressing his nation, the Pakistan Tehreek-e-Insaf (PTI) chief Imran Khan stated that Ghee was 380 billion Pakistani Rupees but today it has reached 600 billion per kg. Imran Khan was slamming the government over Pakistan's economic crisis, however, it was his gaffe which went viral on social media. In fact, Imran Khan was heavily trolled over his goof-up. During the address, Imran Khan said "1 Kilogram of ghee is being sold for PKR 600 billion" which prompted reactions on social media. Attacking the Shehbaz Sharif government over inflation, Imran Khan said that the situation in Pakistan is like treating cancer with disprin as the country is in the same place as Sri Lanka was before the recent civil unrest.
In his address, Imran Khan said, "Pakistan's situation is like this - cancer is being treated with disprin. Pakistan is plunging into more chaos and is at the same place where Sri Lanka was,” Imran Khan said, warning, "The situation will become more fragile." On inflation, Imran Khan further said, “The inflation marchers have increased the price of flour, ghee, dal, chicken and other essential items many folds. We all have to fight together as one nation for true freedom because the chains of slavery never fall automatically. The chains have to be broken.”
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"Ghee was 380 billion rupees, today it has reached 600 billion per kg" Imran Khan said pic.twitter.com/jdEHQdaRtC
— Koustuv 🇮🇳 🧭 (@srdmk01) February 15, 2023
Pakistan Economic Crisis
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It is pertinent to mention here that the Pakistan government is trying to woo the International Monetary Fund (IMF) for the country's 22nd bailout. Pakistan has been expecting a bailout package of $1 billion loan tranche under Extended Fund Facility (EFF) that had been stalled for the last five months. In order to persuade the IMF, the country has spiked prices of multiple common commodities. For instance- Pakistan has increased the price of petrol to a record high of PKR 272 per litre, while diesel price has been hiked by PKR 17.20 to PKR 280 per litre, Geo TV reported. The price of petrol has been increased by PKR 22.20, the Pakistan Finance Division stated while Kerosene oil will now cost PKR 202.73 per litre. The light diesel oil will cost PKR 196.68 per litre.
Apart from this, Pakistan Finance Minister Ishaq Dar introduced the Finance (Supplementary) Bill 2023 in the nation’s National Assembly on Wednesday. Dar announced last week that the government would introduce a mini-budget to generate PKR 170 billion in additional revenues in four months in order to secure the IMF bailout package. A National Assembly session is underway and they have to pass the mini-bill to fulfill the requirements set by the IMF and revive the stalled loan programme to avert Pakistan from defaulting on its debt. In the finance bill, reports suggest that the rate of Goods and Services Tax (GST) has been increased from 17% to 18%. Furthermore, the government has proposed to raise taxes on luxury items to 25%. The finance minister’s mini budget also proposes raising federal excise duty on cigarettes and sugary beverages. An 18% sales tax will be levied on perfumes and branded perfumes.