PML-N leader Nawaz Sharif criticizes the PTI administration’s economic policies while unveiling a relief package for Punjab’s electricity consumers

On August 16, 2024, Nawaz Sharif, the leader of Pakistan Muslim League-Nawaz (PML-N), criticized the previous Imran Khan-led government for the current economic turmoil, attributing the soaring inflation and power crisis to its policies. Speaking at a press conference in Lahore alongside Punjab Chief Minister Maryam Nawaz, Sharif highlighted his administration’s previous economic achievements and expressed empathy for the current financial hardships faced by Pakistanis.

Sharif recalled that during his tenure, the economy was praised globally, with the US dollar valued at Rs95 in 2017. He contended that the dollar was maintained at Rs104 due to economic challenges, but blamed the PTI government for reintroducing the International Monetary Fund (IMF) to Pakistan, which he claimed exacerbated the economic issues.

In response to the escalating cost of living, the PML-N has announced a significant relief package for Punjab’s electricity consumers. The provincial government will cut the power tariff by Rs14 per unit for households consuming up to 500 units of electricity. This relief will be reflected in August and September bills, funded by reducing the provincial development budget.

Sharif also criticized the PTI government for its handling of the power sector, noting a dramatic increase in electricity bills from Rs1,600 in 2017 to Rs18,000. He contrasted this with the interest rates, which surged from around 5% during his tenure to 22% under PTI’s rule.

In reaction, PTI leader Hammad Azhar dismissed Sharif’s claims, arguing that the artificial maintenance of the rupee’s value during Sharif’s tenure led to a severe economic crisis. Azhar asserted that PTI’s economic policies, despite challenges, restored growth rates and managed the power sector’s issues more effectively.

Prime Minister Shehbaz Sharif praised the relief package as a significant public-friendly initiative. He emphasized that the current administration, under Nawaz Sharif’s guidance, has prioritized public relief and is focused on reducing inflation and stabilizing the economy. The federal government recently reallocated Rs50 billion from its development budget to ease electricity prices for lower consumption households.

Analysis:

Political: Nawaz Sharif’s statements reflect ongoing political tensions between the PML-N and the PTI, with each party blaming the other for Pakistan’s economic challenges. Sharif’s critique of the previous government’s policies serves to underscore his party’s stance on economic management and position itself as a solution to the current issues.

Social: The proposed relief package for electricity consumers in Punjab is intended to alleviate some of the financial burdens on households facing high utility costs. This measure aims to provide immediate relief and address public discontent over rising living expenses.

Racial: The impact of economic policies on different demographic groups is a concern, but the current discourse primarily focuses on broader economic and political issues rather than racial or ethnic disparities.

Gender: The relief package’s implications for households may indirectly benefit women, who often manage household budgets and expenditures. The measure could ease financial pressures on women and families affected by high utility costs.

Economic: The economic debate centers around the management of inflation, power sector reforms, and fiscal policies. Sharif’s criticism of the PTI government’s economic strategies contrasts with his own administration’s record, while the announced relief package aims to mitigate the immediate impact of high electricity costs on consumers.