PM Warns of More Burden on People After IMF Deal:
Prime Minister Shehbaz Sharif stated on Tuesday that the International Monetary Fund’s (IMF) conditions will impose a ‘greater burden’ on the people.
The premier held the previous government accountable for the strict IMF conditions.
The prime minister stated that the previous government had breached the commitments made to the IMF, resulting in the global lender’s insistence that Pakistan must meet all conditions at any cost.
He acknowledged that many Pakistanis are struggling to provide food, medication, and education for their children.
He alleged that former Prime Minister Imran Khan had nearly defaulted on Pakistan and strained the country’s relationships with numerous friendly nations.
However, the premier emphasized that his government has alleviated the suffering of the underprivileged through the Benazir Income Support Program.
He also mentioned that inflation is due to the high cost of imported items, as commodity prices have increased since the Russia-Ukraine conflict.
Furthermore, It is important to note that inflation in Pakistan is likely to surpass the record of 29.3 percent observed in April 1975, which is almost 50 years old.
The country is also facing difficulties in securing financing from friendly countries, which has caused a delay in receiving the IMF bailout.
IMF Managing Director Kristalina Georgieva recently stated that the Fund has requested Pakistan to increase tax revenues and distribute subsidies more fairly by directing them only toward those who require them.
Moreover, She emphasized that the IMF is committed to safeguarding the impoverished population of Pakistan.