Pakistan Muslim League-Nawaz (PML-N) leader Nawaz Sharif has blamed the Pakistan Tehreek-e-Insaf (PTI) government for the steep rise in the cost of living, attributing it to the return of the International Monetary Fund (IMF) during Imran Khan’s tenure.
During a press conference in Lahore on Friday, alongside Punjab Chief Minister Maryam Nawaz, the three-time prime minister stated that the price hikes began under the PTI government. He acknowledged the hardships faced by the people of Pakistan due to rising living costs.
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Nawaz Sharif recalled that in 2017, under his leadership, there was no issue of inflation, and the people were living comfortably. He highlighted his government’s economic achievements from 2013 to 2017, claiming that it was recognized as one of the world’s best-performing economies. He mentioned that the US dollar was kept at Rs104 for four years during his tenure, thanks to his government’s policies, despite challenges with exports.
He expressed that if he had remained in power, the dollar would have stayed at Rs104. He also criticized his removal from office, calling it unjust, as it was based on the technicality of not drawing a salary from his son.
Nawaz Sharif defended the PML-N government, stating that it was not responsible for the current price hikes. He noted that his administration had freed the country from the IMF’s grip, whereas it was Imran Khan who brought the IMF back to Pakistan and is now commenting from jail.
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He also claimed credit for ending the load-shedding crisis during his tenure, noting that the average power bill in 2017 was Rs1,600, which has now skyrocketed to Rs18,000. Additionally, he pointed out that the interest rate was around 5% during his government but has since increased to 22% under PTI’s rule.
Nawaz Sharif praised Maryam Nawaz for her efforts in reducing flour prices in Punjab and announced a relief package that includes a reduction of Rs.14 per unit in electricity tariffs for those consuming up to 500 units. This relief will be reflected in the bills for August and September, achieved by cutting the provincial government’s development funds.
In response, PTI leader Hammad Azhar dismissed Nawaz Sharif’s claims, accusing him of misleading the public. Azhar argued that Nawaz artificially maintained the rupee’s value at Rs104 by spending $30 billion of the nation’s reserves, rather than through export growth.