Nawaz Sharif blames Imran Khan-led govt for skyrocketing inflation

• Former premier says there was no price hike in 2017.
• "PML-N govt kept US dollar pegged at Rs104 for 4 years."
• Nawaz says he feels people's pain over rising costs of living.
  

Pakistan Muslim League-Nawaz (PML-N) supremo Nawaz Sharif has attributed the skyrocketing cost of living to the Pakistan Tehreek-e-Insaf (PTI) government, saying that it was the Imran Khan-led regime that brought the International Monetary Fund (IMF) back to the country. 

Addressing a press conference flanked by Punjab Chief Minister Maryam Nawaz in Lahore on Friday, the three-time prime minister said that the issue of price hike commenced in the PTI government, adding that he knows about the pain the people of Pakistan are going through.

The PML-N's top leader said he recalls the time in 2017 when there was no price hike issue with people living an easy and comfortable life, adding that he became premier in 2013, his government worked on the economy, making it one of the world's best-performing economies. 

At that time, the world praised the country for its emerging economy, as the PML-N-led government took the US dollar to Rs95, Nawaz said. "However, the government had to keep the greenback pegged at Rs104 for the next four years owing to exports and some other issues."

The greenback would have been pegged at Rs104 if he had stayed in power, he added.

Earlier, he started his speech by saying that he was evicted from the PM Office because he did not draw a salary from his son, a matter which he called "a joke".

"Was this a justifiable reason for de-seating an incumbent prime minister?" he asked.

The PML-N government, he also said, is not behind the current price hike, adding that the world reacted to Pakistan's growth, saying the country has rid itself of the IMF grip. "Who brought the IMF back to Pakistan is the same person [Imran Khan] who is currently speaking from jail "

The PML-N top leader said that he put an end to the load-shedding before the termination of his five-year term. "We surmounted the power crisis in three years," he said, adding that the power bill of a common man was Rs1,600 in 2017 which has now surged to Rs18,000.

He added that the bank's interest rate was around 5% during his tenure however, it went up to 22% under the PTI's rule.

The N League supremo, patting the shoulder of Maryam Nawaz, thanked her that she slashed flour prices when she assumed power in the province.

The Punjab government has prepared a relief package by cutting the power tariff by Rs14 per unit for people consuming up to 500 units of electricity, Nawaz said. "The relief will be given in the bills of August and September. "

He added that the provincial government had slashed its development fund to provide the relief in utility bills.

Reacting to the PML-N leader's presser, PTI leader Hammad Azhar said that the former premier once again tried to mislead the public.

Brushing aside Nawaz's assertion regarding the rupee value, the PTI leader said that Nawaz kept the dollar at Rs104 not by enhancing exports and used $30 billion of the nation to maintain this "artificial exchange rate".

He added that this measure by Nawaz led to a severe economic crisis in 2017 and 2018. This crunch, he said, was taken care of by the Imran Khan-led government that took the economy back to 6% growth.

Azhar further stated that the power unit was at Rs16 during the PTI's tenure but the per unit price of electricity soared to Rs60 in the PML-N government.

PM lauds historic relief package for power consumers

Prime Minister Shehbaz Sharif welcomed the historic relief package for electricity consumers by the Punjab chief minister under the leadership of Mian Muhammad Nawaz Sharif.

In a statement today, he said efforts are being made to find a lasting and sustainable solution to electricity theft by taking measures against electricity theft and reforms in the power sector.

The prime minister said the relief of Rs14 per unit for the consumers who consume electricity up to 500 the unit is undoubtedly a public-friendly initiative Nawaz Sharif and the chief minister of Punjab.

PM Shehbaz said he, under the directions of Nawaz Sharif, made public relief the first priority of the government since assuming the office as PM.

The Prime Minister said recently, they diverted Rs50 billion from the development budget of the federal government and gave relief in electricity prices, from which consumers with 200 units are benefiting.

The premier said after achieving economic stabilisation, the country is heading in the right direction and public relief and reduction in inflation are the top priorities of the government.