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The tour ends on February 9. But even after a long round of negotiations, there is no consensus on the bailout package between Pakistan and the IMF. The confrontation between the two sides continues.
The deteriorating economic situation in Pakistan has relaxed the attitude of the rulers there. The situation has become such that they have begun to beg in front of the International Monetary Fund (IMF). Not only this, Pakistani Minister Bilawal Bhutte was seen applying for a loan from the IMF in front of the flood victims. But even after all the exercises, it looks like Pakistan’s bowl is going to be left empty. To save Pakistan’s economy from falling into the abyss, a team from the International Monetary Fund has been camping in Pakistan for the past few days. The tour will finally come to an end on February 9. But even after a long round of negotiations, there is no consensus on the bailout package between Pakistan and the IMF. The confrontation between the two sides continues.
Let us tell you that the rescue package from the International Monetary Fund has been waiting for a long time. But every time the IMF raises one or the other, after which Pakistani Prime Minister Shehbaz Sharif gets into trouble. The International Monetary Fund does not trust the promises made by the Government of Pakistan. Apart from this, the IMF does not believe in the credibility of the things that have been said about giving loans to Pakistan from other countries. At the same time, Pakistan’s main newspaper ‘The Dawn’ quoted a senior government official as saying that as of Wednesday night we had not received the draft of the MEFP. The final decision, both in terms of fiscal measures and sources of external financing, rests with the IMF.
What are INF’s terms and conditions?
The IMF wants Islamabad to make efforts to shore up its incredibly low tax base. In addition, he wants the government of Prime Minister Shehbaz Sharif to end tax breaks for the export sector. According to Pakistani media reports, the main point of contention is the IMF’s forecast increase in gasoline, electricity and gas prices. Islamabad says it is meant to help low-income families. The IMF is also pressing Pakistan to keep a sustainable amount of US dollars in the bank through guarantees from friendly countries Saudi Arabia, China and the United Arab Emirates, as well as further support from the World Bank.
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