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Pakistan needs IMF, the lender does not need us

Islamabad, March 30, 2023 (PPI-OT): The Pakistan Economy Watch (PEW) on Thursday said that Pakistan needs the IMF to avoid a default. The international organization does not need us. An important international organization like the IMF is being deliberately made an enemy of Pakistan for which a heavy price will have to be paid, it said. Our leaders should immediately stop making irresponsible statements and false accusations against IMF as it is damaging the reputation of the country, said Brig. (retd) Aslam Khan, Chairman PEW.

He said in a statement issued here that the leading politicians and economic managers of the bankrupting country have not only repeatedly threatened the IMF but also claimed to subdue it which is the height of irresponsibility. Aslam Khan said that after threats, the IMF was blamed for demanding a cut in Pakistan’s missile program, on which the IMF had to issue a clarification.

A few days before this, the international organization was accused of obstructing the election, on which IMF had to provide an explanation, he added. Aslam Khan said it seems that the IMF is being deliberately made an enemy so that it decides not to lend to Pakistan. The IMF does not trust Pakistan due to the habit of our leaders breaking promises.

Now, baseless allegations are being made which are disturbing for the institution and it is tarnishing the reputation of our leaders and country. The Arab countries that promised to give loans to Pakistan last year are still not cooperating and Pakistan while Pakistan will not be able to survive for long without a six billion dollar loan, he observed. Under such challenging circumstances, the conspiracies against the IMF are disturbing, he said, adding that the recent announcement of petroleum subsidy without the permission of the IMF has further increased the mistrust.

He said that an economic manager has been claiming for several months that the IMF’s programme will be restored within days and dollars will be coming from Saudi Arabia, Qatar, and other friendly countries within days but nothing is happening. The baseless claims have not achieved anything other than damaging the reputation of the country, he said.

For more information, contact:
Pakistan Economy Watch (PEW)
402, 4th Floor, Gulistan Khan House, Fazal-e-Haq Road,
82-East, Blue Area, Islamabad
Tel: +92-51-2510375
Fax: +92-51-2802449
Cell: +92-321-5157671

The post Pakistan needs IMF, the lender does not need us appeared first on Business News Pakistan.

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