Pakistan needs money for the people impacted by the floods, according to Federal Finance Minister Miftah Ismail, thus his current responsibility is to raise money for them.
He told the journalists in New York that his current responsibility was to raise money for flood victims.
The IMF official acknowledged Pakistan’s proposal for reducing the restrictions controlling the IMF contract, the minister said, adding that she was asked to soften the conditions during a meeting with IMF Managing Director Karistalina Georgieva.
He stated that the World Bank had also been approached and that Pakistan would receive an additional $2 million from the WB this year.
According to him, the coalition government of the PDM had to uphold the terms of the deal that the Imran Khan-led administration had made with the IMF. But he added that the IMF had given the PML-N administration considerable leeway.
After the severe flash floods that destroyed Sindh’s cotton fields, Miftah Ismail claimed that Pakistan’s circumstances had changed. This year, he continued, Pakistan will thus need to import cotton.
“Pakistan will also have to import wheat as well but it will increase the current account deficit,” FM said.
As part of the Benazir Income Support Programme (BISP), he added, the current administration is giving Rs25,000 to each of the 4 million flood-affected families.
Additionally, he denied the allegations of corruption in the flood victims’ fund, claiming that any such information is untrue and unfounded.
The PML-N leader didn’t forget to be critical of Imran Khan, chairman of the PTI. He added, “He is so dangerous that he wants pardon from everyone.” Imran Khan makes a minor threat, then apologises.
