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Miftah's transformation into Che Guevara: "Miftah terms Pakistan ‘a 1pc republic’" DAWN

villageidiot

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KARACHI: Former finance minister Miftah Ismail on Monday termed Pakistan a “one-per cent republic” that offers no upward social mobility to an overwhelming majority of its citizens.


Speaking at an awards ceremony organised by the Management Association of Pakistan (MAP), he said there’s “something very wrong” with Pakistan.


“The 1pc elite controls this country,” said Mr Ismail who was a placeholder at the finance ministry for six months until Ishaq Dar’s recent return from exile.


Citing the example of US billionaires Bill Gates and Steve Jobs who came from nothing and yet built a fortune by dint of their talent, he lamented that almost all rich Pakistanis are beneficiaries of generational wealth.


The extempore speech of Mr Ismail that lasted more than half an hour was mostly a repeat of the talks he recently delivered at the Institute of Business Administration and the CFA Society. The only thing different from his last speech was perhaps that he steered clear of commenting on the petroleum development levy — something that elicited a harsh response from not only the PTI but also Mr Dar.


Mr Ismail didn’t take questions from the press and left after handing out wards and trophies to dozens of corporate entities that he’d laid into minutes ago for rent-seeking and enjoying state-sanctioned protection from competition.


“(The last government) distributed Rs580 billion among the richest 1pc Pakistanis under the Temporary Economic Refinance Facility. The government itself is borrowing at 15pc but the rich people got money at 1pc only,” he said. The liquidity injection increased imports of machinery and widened the current account deficit because local business groups produced goods for domestic consumption only, he said.


Without naming names, he said a conglomerate requested his support for setting up a 500,000-tonne factory of polypropylene while he was finance minister. They demanded a 20pc duty protection for 20 years because, in Mr Ismail’s words, the corporation couldn’t compete against its Chinese counterparts.


He also criticised the auto sector for its inward-looking approach that’s been draining foreign exchange on imports for decades without generating any dollar earnings through exports. He mocked the auto sector for finally exporting “carpets” used in vehicles to Egypt upon his insistence.


Auto and chemical companies were among the recipients of the MAP awards.


Published in Dawn, October 4th, 2022

Source: DAWN

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What do you think in going on within PML-N with the return of Dar. Is shehbaz group flexing? Do they still have support of the powers that be? Or have they been completely side lined with the deal offered to Dar?

In related news, Dar has responded to Miftah as well. Guy thinks pretty highly of himself, I gather

@Jango , @Maula Jatt , @SIPRA , @HRK
 

Maula Jatt

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KARACHI: Finance Minister Ishaq Dar came out swinging against his predecessor Miftah Ismail on Monday for the latter’s disapproving comment on the petroleum development levy (PDL) a day ago.


In an interview on Geo News, Mr Dar advised Mr Ismail not to worry about the International Monetary Fund (IMF).


“Maybe Miftah sahab was comfortable (in burdening the public). But I’ve been dealing with the IMF for 25 years. I’m the only humble person who’s completed an IMF programme. Miftah sahab or anyone else shouldn’t worry… it’s between me and the IMF,” he said.


The federal government collects the PDL on the sale of petroleum products to shore up its non-tax revenue. It was charging the levy in excess of Rs37 on every litre of petrol and Rs7.50 on every litre of diesel until the end of September. The government had previously assured the IMF that it’d increase the levy to Rs50 on both petrol and diesel to collect about Rs855 billion in 2022-23.





But to reduce the prices of all petroleum products by five per cent for the first half of October, Mr Dar decided to take a hit on the government’s non-tax revenue. He cut the PDL on petrol by Rs5 per litre to Rs32.42 while increasing it by Rs5 per litre on diesel to Rs12.58.


Mr Dar said Mr Ismail should simply call him to seek clarity instead of making public statements. “He should’ve called me. I would’ve told him that’s Solution No 1, that’s Solution No 2 and that’s Solution No 3,” he advised Mr Ismail, a PhD economics from the University of Pennsylvania, in a patronising tone.


“Don’t we have a heart? Must we keep on burdening the 220 million people with taxes?” he said.


Mr Ismail’s assertion that the change in the levy’s amount became effective without the IMF’s nod also ruffled the feathers of the opposition. He and Senator Shaukat Tarin of the PTI had an exchange of harsh tweets on Sunday as the opposition leader accused Mr Ismail of “doublespeak” on sticking to the IMF’s demands.

In a separate ceremony on Monday, Mr Ismail delivered a pro-poor speech to a group of corporate executives while steering clear of the topic of PDL. He didn’t take questions from the press.

Source: DAWN

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What do you think in going on within PML-N with the return of Dar. Is shehbaz group flexing? Do they still have support of the powers that be? Or have they been completely side lined with the deal offered to Dar?

@Jango , @Maula Jatt , @SIPRA , @HRK
PMLn should be kicked out of power and dar should be hanged

I am rooting for anyone named not Dar at this point
 

villageidiot

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PMLn should be kicked out of power and dar should be hanged

I am rooting for anyone named not Dar at this point
There's a lot of things that should happen. Unfortunately, Haji sb has other plans.
As the saying goes:
Awam proposed, Haji sb. disposes.

My biggest problem with the entire fuckup is that it doesn't even make any sense. We don't know what was so important that they had to remove IK. With ganja, we knew the answer to "Mujhe kyun nikala"? That's why we were okay with it. BC at least tell us IK was hatching some some conspiracy with Modi and the zionists etc etc.
 

SIPRA

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KARACHI: Former finance minister Miftah Ismail on Monday termed Pakistan a “one-per cent republic” that offers no upward social mobility to an overwhelming majority of its citizens.


Speaking at an awards ceremony organised by the Management Association of Pakistan (MAP), he said there’s “something very wrong” with Pakistan.


“The 1pc elite controls this country,” said Mr Ismail who was a placeholder at the finance ministry for six months until Ishaq Dar’s recent return from exile.


Citing the example of US billionaires Bill Gates and Steve Jobs who came from nothing and yet built a fortune by dint of their talent, he lamented that almost all rich Pakistanis are beneficiaries of generational wealth.


The extempore speech of Mr Ismail that lasted more than half an hour was mostly a repeat of the talks he recently delivered at the Institute of Business Administration and the CFA Society. The only thing different from his last speech was perhaps that he steered clear of commenting on the petroleum development levy — something that elicited a harsh response from not only the PTI but also Mr Dar.


Mr Ismail didn’t take questions from the press and left after handing out wards and trophies to dozens of corporate entities that he’d laid into minutes ago for rent-seeking and enjoying state-sanctioned protection from competition.


“(The last government) distributed Rs580 billion among the richest 1pc Pakistanis under the Temporary Economic Refinance Facility. The government itself is borrowing at 15pc but the rich people got money at 1pc only,” he said. The liquidity injection increased imports of machinery and widened the current account deficit because local business groups produced goods for domestic consumption only, he said.


Without naming names, he said a conglomerate requested his support for setting up a 500,000-tonne factory of polypropylene while he was finance minister. They demanded a 20pc duty protection for 20 years because, in Mr Ismail’s words, the corporation couldn’t compete against its Chinese counterparts.


He also criticised the auto sector for its inward-looking approach that’s been draining foreign exchange on imports for decades without generating any dollar earnings through exports. He mocked the auto sector for finally exporting “carpets” used in vehicles to Egypt upon his insistence.


Auto and chemical companies were among the recipients of the MAP awards.


Published in Dawn, October 4th, 2022

Source: DAWN

----------------------------------------------------------------------------------------------------


What do you think in going on within PML-N with the return of Dar. Is shehbaz group flexing? Do they still have support of the powers that be? Or have they been completely side lined with the deal offered to Dar?

In related news, Dar has responded to Miftah as well. Guy thinks pretty highly of himself, I gather

@Jango , @Maula Jatt , @SIPRA , @HRK

Blabbers of a Scoundrel, who has been kicked out of power, by his own clan of Rascals. As simple as that.
 

Jango

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What do you think in going on within PML-N with the return of Dar. Is shehbaz group flexing? Do they still have support of the powers that be? Or have they been completely side lined with the deal offered to Dar?

In related news, Dar has responded to Miftah as well. Guy thinks pretty highly of himself, I gather

Just have a look at the press conference by Maryam alongside Ishaq Dar, and see the attendees.

Then note who weren't the attendees, and see their twitter appreciation of 'superman' Miftah.

That should tell you all you need to know.
 

villageidiot

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Blabbers of a Scoundrel, who has been kicked out of power, by his own clan of Rascals. As simple as that.
I know. But, he's small fry, Dar should be our primary target. As you know, our myopic awam will fall for Darnomics while he ensures the destruction of Pakistan in the years to come. Hell, we'd been cleaning his mess since he ran in 2017 and had just gotten on track 4.5 yrs later, before they kicked IK out. Now, they are just trying to win back the policital capital utilizing their 'tajarba kari', while burning a hole in Pakistan's bases for IK to fill in.
 

HRK

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KARACHI: Former finance minister Miftah Ismail on Monday termed Pakistan a “one-per cent republic” that offers no upward social mobility to an overwhelming majority of its citizens.

Source: DAWN

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What do you think in going on within PML-N with the return of Dar.@HRK
"Noora Kushti
 

Jango

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Miftah superman kay kartoot dekhne hain to have a look at the proceedings of the NA committee on finance and the briefing by SBP officials.
 

HAIDER

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He got pissed after Nawaz's humiliation of Miftah in London, then kick him out of the chartered PAF plane, and on top Mariam leaked audio.
Poor guy did all dirty job and now he rewarded ...

1664900889992.png
 

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