ISLAMABAD: Finance Minister Shaukat Tarin said Monday on the National Assembly floor that the IMF bailout was needed to avert insolvency owing to financial crises created by previous governments. He said that the budget for the fiscal year 2022 is for everyone’s benefit and that it guarantees modest to medium loans to people to promote the growth of companies and production. I’m well aware of prior administrations’ failings, so I don’t need to be educated on the subject, Tarin said today in the assembly, adding that printing currency notes is not the answer to averting crises. Prime Minister Imran Khan, according to the finance minister, has taken actions that have benefited the economy in general. He stated that the current strategy is to meet the needs of everyone, even the impoverished. He refuted the opposition’s claims that the country is currently experiencing 25% inflation. He believes they should cease lying about inflation, which is currently at 11 percent rather than 25 percent. According to Tarin, the country imports 70% of its pulses, contributing to the economy’s import expenses. What did previous administrations do about it in the last ten years, he wondered, and why was the farm sector ignored? The price of these basic food products that we import is presently greater internationally, which is why inflation is occurring.