PM explains why IMF ‘doesn’t trust’ Pakistan
- Prime Minister Shehbaz Sharif says previous government had gone back on its agreement with the global lender
ISLAMABAD: Prime Minister Shehbaz Sharif has stated the present government of coalition partners would complete its constitutional term of 14 months.
Addressing the Pakistan Muslim League-Nawaz (PML-N) senators on Thursday, the prime minister said that increase in petroleum prices was agreed by the previous government with the International Monetary Fund (IMF) including increase in petroleum levy by Rs30 and GST 17 percent. He said the IMF did not trust Pakistan because the previous government had gone back on its agreement with the global lender.
He said that an agreement with the IMF would be reached soon if the Fund did not impose any additional conditionality and acknowledged about inflation in the country. He said that he would address the nation in a few days to inform the nation about the taxes imposed on the rich.
The premier said that the previous government in its three-and-a-half years had not provided any relief to the poor but after sensing defeat in the vote of no confidence it suddenly reduced oil prices without provision of funding and getting approval from the Cabinet.
He said that even after 75 years, the country has not been able to get rid of the begging bowl and as a result there is very challenging situation on the economic front.
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He said that he has spoken to China, Saudi Arabia, the UAE, Qatar, and other friendly countries which have always supported Pakistan in difficult times financially, politically, and on the diplomatic front. He said how long China and Saudi Arabia would be helping Pakistan and would be thinking that when Pakistan would stand on its own feet. He said that there are corruption scandals of wheat and sugar of previous government of Pakistan Tehreek-e-Insaf.
He said that the agreement with the IMF would not bring about prosperity overnight, but it would open doors of other multilaterals and cooperation with Islamic countries will also increase. The prime minister further said that for the first time in history, the rich class has been taxed.
Shehbaz said that the Chinese power plants set up by the China under the CPEC also came under accusation of corruption but despite this China has assured that it will move ahead with the projects and provided $2.3 billion loan guaranteed. The prime minister said that there is time to bury the past and tread the path of development with hard work, honesty, and integrity.
Copyright Business Recorder, 2022
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