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Rupee must be strengthened if imports reduced by $5bn: Shaukat Tarin

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ISLAMABAD, July 31(ABC): Former finance minister Shaukat Tarin on Sunday questioned Finance Minister Miftah Ismail, saying that if the imports of $5 billion were reduced, the rupee should have strengthened.

Taking to Twitter, Tarin wrote, “But the rupee is in a free fall. Reason because you have stopped all major imports. Banks are not opening/retiring elcees”.

While lashing out at Miftah, Tarin penned, “July has still not closed and yet you have announced reduced imports of $5bn as an achievement.”

In another tweet, Tarin said, “There were no major oil imports in July as you did so in June (total imports of$7.9bn).”

Factories are closing, exports are tanking, Tarin concerned.

He said, “Despite all this pain with inflation at 38% IMF wants you to do more and sell your family silver at throw prices.”

Tarin concluded his tweet by asking the government to admit its failure and quit.

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  • FD News

    Financial Daily (FD) is an emerging media outlet providing news reports, analysis and features especially related to politics and economy. FD is currently one of the largest and most comprehensive private-sector information portals in Pakistan, providing its readers with apolitical, unbiased and fact-based news reports and analyses.

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