"People are urged to tighten their belts, while new cars are bought for personal use." Miftah Ismail

ARY NEWS

Transcript

00:00If I tell you the truth, in the article I was talking about,

00:05where we were at the front in 1990 in South Asia,

00:08today we are at the back.

00:10This means that our governance has failed.

00:12We will have to change our governance model.

00:15These provinces, their governments have failed.

00:17The work of Wafaaq is given to the provinces,

00:21the work of the provinces is given to Wafaaq,

00:24the local work is given to the provinces.

00:26Roads, roads, schools, hospitals are at the local level.

00:29Local governments should run it.

00:31You should directly give money to local governments

00:33and tell them to raise their own property tax.

00:35Cities like Karachi, Lahore, Islamabad should raise their own property tax.

00:39Wafaaq should help the poorest cities in Awaraan and Charsadda

00:43where there is no money.

00:45You should help the rest of the cities as well.

00:48This is how it should work.

00:50You should take out your own expenses,

00:52you should collect your own tax.

00:54And the big governments that you have created,

00:56the government of Punjab bought 100 cars,

00:58the government of FVR bought 1300 cars.

01:00So, on one hand, we are being told to

01:02bend your back and sacrifice,

01:04the country needs it.

01:06And on the other hand,

01:08thousands of cars are being bought.

01:10So, there is no sacrifice there.

01:12The sacrifice is only for the people.

01:14There is mercy on the poor people.

01:16If electricity falls on the poor Muslims,

01:18there is mercy on the poor Muslims.

01:20If electricity falls on the poor Muslims,

01:22there is mercy on the poor Muslims.

01:50The macroeconomy this year was very good compared to last year.

02:01Last year, when Mr. Dar fought with the IMF

02:03and stopped the currency for 4 months,

02:05and then the currency went in February.

02:07So, in February, March, April, May,

02:09the highest inflation in the history of Pakistan happened.

02:12The inflation increased the fastest.

02:14After that, in June, leaving Mr. Dar,

02:16Mr. Shahbaz went to the IMF and made an agreement.

02:18Mr. Kaye Tacker did it.

02:20And Aurangzeb did a better job.

02:22There is no doubt about it.

02:24But whatever good has come,

02:26I tell you the truth,

02:28it has come from the change of the international situation.

02:30The price of crude oil has decreased in the world.

02:32When I was a minister, for example,

02:34the barrel oil was $120.

02:36Today, the barrel of oil is $70.

02:38Because of this, your petrol is cheaper.

02:40Because of this, your diesel is cheaper.

02:42And secondly, if you had kept so much currency,

02:44you slowed down the economy.

02:46When the economy slowed down,

02:48the demand for the dollar also decreased.

02:50When the demand for the dollar decreased,

02:52your rupee also became stable.

02:54All these things have happened.

02:56But they have not done anything.

02:58They have not reformed a single penny.

03:00The price of oil in the world has decreased.

03:02We have benefited.

03:04God forbid, and these things happen up and down.

03:06Tomorrow, if oil comes back to $90,

03:08we will again be in current account deficit.

03:10Oil will come back to $90.

03:12Then inflation will increase.

03:14But you have not brought in new investments.

03:16You have not built any safety net here.

03:18You have not reduced the government's expenses.

03:20You have not reduced the tariffs on utilities

03:22so that new investments come here.

03:24You have not reduced the tax rates

03:26so that people get some peace here.

03:28Look at this.

03:30The micro-economy of people like me

03:32and your economy is of the Pakistani people.

03:34Has it improved?

03:36The government says that the inflation rate has decreased.

03:38You go to the market and see

03:40if you can buy things better.

03:42What is the meaning of buying things better

03:44in this country for the past three years?

03:48Tell me one thing.

03:50Two or three big things.

03:52This is an export of $30 billion.

03:54How will this go up to $50 billion

03:56in five years?

03:58We are expecting that

04:00the energy costs are not decreasing.

04:02Maybe they will increase even more.

04:04Then we see a figure.

04:06They say that there is a big dip

04:08in large-scale manufacturing.

04:10The small-scale industry

04:12has improved.

04:14In our country,

04:1670-80% of the small-scale industry

04:18feeds and supplies to the large-scale industry.

04:20If large-scale manufacturing

04:22is declining,

04:24how is the small-scale industry going up?

04:26This is my question

04:28because I cannot reconcile these two.

04:30You have also been the Minister of Treasury.

04:32In government spending,

04:34which is 8.5 trillion

04:36per year,

04:38even if 10% of government spending

04:40is reduced,

04:42can the government spend

04:4410% of government spending

04:46or not?

04:50If you reduce

04:5210% of government spending

04:54by 8.5 trillion,

04:56you can reduce

04:588-10%.

05:00You can reduce

05:021,000 trillion easily.

05:04Seriously,

05:06if you reduce

05:081,000 trillion,

05:10you can reduce

05:121,000 trillion easily.

05:14If you reduce

05:161,000 trillion,

05:18you can reduce

05:201,000 trillion easily.

05:22But they say

05:24that if we reduce government spending

05:26so that the economy moves,

05:28the related industries

05:30can run,

05:32they justify it from this angle.

05:34If you take a loan from banks

05:36or take a tax from people,

05:38if they don't take a tax from people,

05:40people will spend.

05:42If they spend,

05:44the industry will run.

05:46If you don't take a tax from banks,

05:48people will get less interest.

05:50You have to increase the country

05:52from the private sector

05:54or you have to increase

05:56by making roads for the government.

05:58No. 1.

06:00No. 2.

06:02No. 3.

06:04No. 4.

06:06No. 5.

06:08No. 6.

06:10No. 7.

06:12No. 8.

06:14No. 9.

06:16No. 10.

06:18No. 11.

06:20No. 12.

06:22No. 13.

06:24No. 14.

06:26No. 15.

06:28No. 16.

06:30No. 17.

06:32No. 18.

06:34No. 19.

06:36No. 20.

06:38No. 21.

06:40No. 22.

06:42No. 23.

06:44No. 24.

06:46No. 25.

06:48No. 26.

06:50No. 27.

06:52No. 28.

06:54No. 29.

06:56No. 30.

06:58No. 31.

07:00No. 32.

07:02No. 33.

07:04No. 34.

07:06No. 35.

07:08No. 36.

07:10No. 37.

07:12No. 38.

07:14No. 39.

07:16No. 40.

07:18No. 41.

07:20No. 42.

07:22No. 43.

07:24No. 44.

07:26No. 45.

07:28No. 46.

07:30No. 47.

07:32No. 48.

07:34No. 49.

07:36No. 50.

07:38No. 51.

07:40No. 52.

07:42No. 53.

07:44No. 54.

07:46No. 55.

07:48No. 56.

07:50No. 57.

07:52No. 58.

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