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Miftah Ismail Profile picture
@MiftahIsmail
Aug 9, 2020 • 5 tweets • 1 min read • Read on X
You’re absolutely right corruption awam ka masla hay. After PMLN held prices steady for five years, it is PTI’s corruption that resulted in medicine prices more than doubling, sugar price reaching Rs 95, wheat flour exceeding Rs 60, etc. ==>
And it’s PTI’s incompetence that: results in frequent rail accidents; has devastated our aviation industry and hurt PIA immensely; has increased losses of Public Sector enterprises; results in circular debt increasing at the rate of Rs 50 bil / month in spite of raising power ==>
tariffs repeatedly; that forces the govt to produce power using expensive deisel instead of LNG that it neglects to import; that forces huge load shedding in Karachi and rest of Pakistan, etc. Finally it is a combination of PTI’s corruption and incompetence that results in: ==>
frequent transfers of govt officials in Punjab (especially in DG Khan and police); ghost teachers in KP schools; in trying to sell the Roosevelt hotel in a depressed real estate market; selling govt bonds a day before interest rates are lowered; FBR giving ==>
Rs 16 billion out-of-turn refunds to favoured firms; paying over 13% return to hot money investors, etc. So you’re right but I would just add that PTI’s corruption and incompetence are both “awam ka masla”.

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More from @MiftahIsmail

Miftah Ismail Profile picture
Mar 5, 2023
1. Pakistan’s exports have decreased from 0.18% of total global exports in 1992 to 0.13% in 2022. Using another metric, our exports have declined from 16.5% in 1999 to 9% in 2022. Clearly this is a secular decline in our exports. I think there are four factors that explain this
2. downward trend.

First is law and order. Foreigners don’t come to Pakistan due to a perception of insecurity. Even many foreign airlines don’t come here, and when they do they don’t like their crews staying here overnight. As a result our factories aren’t able to get their
3. buyers to visit and large western companies have buying offices in India and Bangladesh but not in Pakistan. We don’t get any foreign investment either in the export sector. This perception of insecurity is seriously detrimental to our exports.
Read 10 tweets
Miftah Ismail Profile picture
Feb 24, 2023
1. My dear friend @murtazahsyed has written awesome threads on economic policies lately, giving us free tutorials. He was a great Deputy & Acting Governor of SBP. I wish him well as he moves on. Today I will run a fool’s errand and partially disagree with one of his threads.
2. Murtaza wrote that our 20-year economic slide is for 3 reasons: spending beyond our means (Guns), population explosion (babies), and free-trade agreement (with China). I absolutely agree with the deleterious effects of population growth to our economy. No disagreements there.
3. If our population were growing only as fast as India or Bangladesh over the last 15 years, we would have had 3 crore fewer people and our per capita income would have been higher by 15%. Thus with same resources all our children could have been in school instead of only half.
Read 14 tweets
Miftah Ismail Profile picture
Feb 23, 2023
1. My dear friend @murtazahsyed has written awesome threads on economic policies lately, giving us free tutorials. He was a great Deputy & Acting Governor of SBP. I wish him well as he moves on. Today I will run a fool’s errand and partially disagree with one of his threads.
2. Murtaza wrote that our 20-year economic slide is for 3 reasons: spending beyond our means (Guns), population explosion (babies), and free-trade agreement (with China). I absolutely agree with the deleterious effects of population growth to our economy. No disagreements there.
3. If our population were growing only as fast as India or Bangladesh over the last 15 years, we would have had 3 crore fewer people and our per capita income would have been higher by 15%. Thus with same resources all our children could have been in school instead of only half.
Read 4 tweets
Miftah Ismail Profile picture
Aug 12, 2022
A few questions for PTI friends.
1) Did Imran Khan not return confiscated £190 million to his ATM? Did he not hide this from cabinet & the nation? Did he not get 100s of acres of land in exchange in a trust controlled by himself, his wife & Farah Gujjar? Isn’t this corruption?
2) Did Begum Sahiba not demand and receive (through her BFF Farah Gujjar) jewellery from the same ATM in exchange for Imran Khan giving him over a dozen permissions to leave the country while on ECL? Is this not corruption?
3) Did Farah Gujjar not take bribes from transfers and postings in Punjab? Did Imran Khan not know about it? Did he not enable this corruption? Did he and his wife not benefit from this corruption?
Read 5 tweets
Miftah Ismail Profile picture
Jun 26, 2022
Amir bhai I am not at all a hidden Marxist. I am a firm believer in markets and capitalism. Also in social justice. If our country was on the brink of default, what was the government supposed to do? If we want our poor people to bear the brunt of rising global oil prices 1/n
in the form of high petrol and diesel prices, and if we want our middle classes to bear 17% tax on consumption and high utility rates due to global rise in coal, LNG and oil prices (and previous government’s incompetence and irresponsibility) then shouldn’t our rich also pay? 2/n
Everyone talks about the benefit of direct taxes and now that we have done that, and imposed a one-time Super tax from 1% to 10% on companies and individuals earning a minimum of 15 crore, why so much consternation? This year we will have a tax to gdp ratio of 8.6%, one of 3/n
Read 8 tweets
Miftah Ismail Profile picture
Apr 21, 2022
Shaukat bhai:
A) Total debt increased by PTI by March ‘22 exceeds Rs 20 trillion. Why are you giving Dec ‘21 figures. Isn’t that deception? Surely we expect better from you. B) Just the deficits incurred by PTI in the first 3 years is Rs 10.22 trillion. 1/2
This years deficit was projected to be Rs 5.575 tr and this figure was shared by the ministry with you. So please don’t deny it. That’s Rs 15.795 tr in just pure deficits. C) You are saying every previous govt’s debt figure should include interest payments but not yours? 2/3
You want to use all the assets of the govt -dams, roads, power plants, offices, helicopters, cars- but not pay interest on the assets! And still earn profits on those assets? What’s so special about you guys that you don’t have to pay interest? Is this a rational argument? 3/5
Read 5 tweets

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