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Business News/ News / World/  Political turmoil in Pakistan? Shahbaz Sharif is facing rising criticism amid economic crisis
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Political turmoil in Pakistan? Shahbaz Sharif is facing rising criticism amid economic crisis

Shehbaz Sharif government presented a mini-budget to impose more taxes and increase the price of petrol

Pakistan’s Prime Minister Shahbaz Sharif (AP)Premium
Pakistan’s Prime Minister Shahbaz Sharif (AP)

Pakistani political party Tehreek-e-Labaik Pakistan (TLP) has given a 72-hour 'ultimatum' to the Pakistan Muslim League-N (PML-N) led the government to withdraw the latest hike on petroleum products, The Express Tribune reported. Also there are reports emerging that his niece and daughter of former Pakistan Prime Minister Nawaz Sharif, Maryam Nawaz has opened a front against him.

In fact, two days ago, the Shehbaz Sharif government presented a mini-budget to impose more taxes and increase the price of petrol. A day after the budget was presented, Maryam Nawaz, the main organizer of the PML-N party, dissociated herself not only from the "unpopular" moves but also from the government. Since returning to Pakistan from London last month, Maryam has been addressing rallies across Punjab and meeting party workers to strengthen her hold ahead of the general elections due in October.

Talking to party workers and leaders in Islamabad, Maryam Nawaz said, “This coalition government of nine parties is not our government. Our government will be Nawaz Sharif's government."

Meanwhile,Pakistan is trying to finalise an agreement with the International Monetary Fund (IMF). Under the agreement, Pakistan has imposed new taxes worth 170 billion. So that the public does not get angry because of the tax, that is why Maryam is now presenting herself differently from her uncle.

He also said that the PML-N-led coalition government got "real" power after the retirement of former army chief General Qamar Javed Bajwa in November last year. "Before November, someone else was running the government," he said at a media briefing in Bahawalpur.

Earlier, on Wednesday, the price of petrol has been moved up to 272 per litre after an increase of Rs22.20, a press release from the Finance Division read Wednesday night, to appease the International Monetary Fund (IMF) for unlocking the critical loan tranche, hours after unveiling a tax-loaded 'mini-budget', Geo News reported.

The Pakistani rupee has fallen sharply against the dollar since an artificial cap on the local currency was removed last month to allow its value to be decided by a market-based exchange rate.

The price of high-speed diesel has been increased to 280 per litre after a hike of Rs17.20. Kerosene oil will now be available at 202.73 per litre following a 12.90 hike.

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Published: 19 Feb 2023, 02:10 PM IST
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