Daily Times

Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan on Sunday criticised the government for increasing the prices of petroleum products and currency devaluation. The former prime minister took to Twitter and said that the latest hike in fuel prices and devaluation of the rupee “has crushed masses and salaried class”. “Total mismanagement of our economy by a corrupt and incompetent imported government has crushed masses and salaried class with [the] latest hike in petrol and diesel prices,” read the tweet. The PTI chief added that 35% unprecedented inflation is expected with a Rs200 billion mini-budget. The criticism by the ousted premier comes just hours after Finance Minister Ishaq Dar announced an increase in petrol and diesel prices by Rs35 per litre. The country is seeking the revival of the stalled IMF programme of $6.5 billion to avert the looming high risk of default on international payments. The SBP had said in its latest weekly update that the foreign exchange reserves had further depleted by $923 million – barely enough for two to three weeks’ import requirement.