Finance Minister Aurangzeb and Shibli Faraz engage in a dispute on economic policies.

A contentious debate occurred between Finance Minister Muhammad Aurangzeb and PTI Senator Shibli Faraz during a session of the Senate Standing Committee on Finance, presided over by Senator Saleem Mandviwala.

The dialogue became acrimonious as both leaders exchanged criticisms over the nation’s economic difficulties and historical governance.

Finance Minister Aurangzeb condemned the economic actions of the 2021 cabinet, asserting that they damaged Pakistan’s prestige and intensified the nation’s financial challenges.

The country’s reputation was adversely affected by the cabinet decisions made in 2021. “We are currently engaged in rectifying that damage,” he stated. The minister stated that the government is eschewing unsustainable growth practices, remarking, “Three years ago, the growth accelerator was engaged, resulting in pressure on the balance of payments.” We are now prudent with the extent to which we engage the accelerator. We are entirely reliant on the IMF.

Senator Shibli Faraz severely criticized the minister for concentrating on the past three years while neglecting longstanding systemic challenges. “What is the reason for your fixation on the past three years?” “Why do we not discuss the misgovernance of the past 70 years?” he inquired.

Faraz also condemned the present administration’s absence of a comprehensive economic policy. “You mention a 6% growth rate, yet no plan is evident,” he stated, advocating for the policies of the preceding administration.

The finance minister responded by highlighting the unfulfilled commitments of the prior administration. “We reference the past due to your failure to honor your commitments,” he stated, noting that the present administration is doing measures to stabilize the economy and restore foreign confidence.