The Pakistan Tehreek-e-Insaf (PTI) has decided to retract its support for Pakistan’s $3 billion stand-by arrangement loan program from the IMF.
A delegation from PTI, headed by Chairman Barrister Gohar, held discussions with IMF representatives, expressing the party’s concerns about the fairness of the upcoming 2024 general elections. Voice of America Urdu reported this breaking news on Wednesday. PTI chairman Barrister Gohar Khan denied the news saying he did not discuss it with the IMF.
Earlier, PTI has signaled its intention to withdraw support for the IMF loan program.
The party had previously assured its backing with the understanding that the program would be implemented post the election.
However, due to doubts about the possibility of fair elections, PTI appears in a mood to revoke its support for the IMF program.
Sources within PTI disclosed to VOA Urdu that their support for the loan program was contingent upon the conduct of free and fair elections in the nation. As this no longer appears feasible, the party has decided to withdraw its backing for the program.
The IMF’s $3 billion SBA program received approval back in July 2023 following extensive efforts by Pakistani officials.
IMF representatives engaged in several meetings with leaders from various political factions, including PMLN, PPP, and PTI, receiving assurances from these parties regarding their commitment to implementing the program’s terms upon assuming power after the general elections.
