IMF not solution to economic woes of Pakistan: Shabbar Zaidi

Former Federal Bureau of Revenue (FBR) chairman Shabbar Zaidi on Wednesday stated that the International Monetary Fund (IMF) is not the solution to the economic woes of Pakistan, ARY News reported.

Speaking in the ARY News programme ’11th Hour’, Shabbar Zaidi said that the IMF will give homework which the government have to ensure implementation to receive the next tranche.

The former FBR chairman anticipated that the IMF will give the government a financial framework by tomorrow. He said that the government of Pakistan has to act on various points including the IMF’s financial framework.

He said that the IMF will release the funds after the government will complete the reform packages.

READ: PAKISTAN, IMF MAKE PROGRESS IN ONGOING TALKS FOR 9TH REVIEW

“It will not the last, but it will be the first instalment from IMF of the next 5 years,” Zaidi claimed.

Shabbar Zaidi said that the IMF will show the finance ministry ‘how and what’ to do to avoid financial and current account deficits. He rejected the government’s claims that the agreement with the IMF has reached the final stages.

He quoted one of the IMF’s conditions saying, the global lending institution wants the Pakistani government to raise its reserves to $16 billion by June 30 which is impossible.