County suffers Rs300b loss in adjustment of IMF interest rate, claims Saleem Mandviwala

By: News Desk      Published: 07:13 PM, 9 Jun, 2021
County suffers Rs300b loss in adjustment of IMF interest rate, claims Saleem Mandviwala

PPP leader Senator Saleem Mandviwala on Wednesday said that the county suffered a loss of Rs300 billion in an adjustment of IMF interest rate, reported 24News HD TV channel.

Addressing a press conference in Islamabad, he e said that the IMF had asked for a 12 percent interest rate while the government increased it at 13.5 percent. He said the country had suffered a huge loss due to this, adding that they would not let the governor of State Bank go abroad and make him answerable. He said they would not go for judicial commission on the matter rather the Senate Finance Committee would investigate it.

Mandviwala said that the government had imposed new taxes of Rs900 billion in budget 2021-22. The PML-N and PTI governments did not pay attention to agriculture. He said an application against the governor State Bank of Pakistan had been submitted. He said that there was another scandal of Rs700 billion but the government did not know about it.

Mandviwala said that the incumbent government had closed down the operation of many national institutions. He further said that the incumbent government did nothing other than closing down the institutions. He said that data of taxpayers should be collected through NADRA.