IMF 'ruined' Pakistan's economy, claims Sheikh Rasheed

Awami Muslim League chief and former interior minister Sheikh Rasheed Thursday claimed IMF has ‘ruined’ Pakistan’s economy.

Talking to journalists outside the ATC in Rawalpindi, Sheikh Rasheed said, the government has again increased electricity rates on the ‘IMF demand’.

The International Monetary Fund has ruined Pakistan’s economy, he alleged.

He observed MNAs were appropriately arrested from the Parliament. ‘Non-favorites’ were handed over to the police on remand, while ‘favorites’ were released, Sheikh Rasheed alleged.

The former minister said not a single rally from Rawalpindi departed for Islamabad to attend PTI’s public rally in Islamabad on September 8.

Read more: Pakistan likely to ‘introduce mini budget’ as FBR struggles to meet targets

Earlier in the day, sources said, Pakistan is likely to introduce mini budget as the Federal Board of Revenue (FBR) is facing difficulties in meeting its tax collection targets.

According to sources, FBR needs to collect Rs2,654 billion in taxes for the first quarter of the fiscal year 2024-25, with Rs 1,190 billion required in September 2024 alone.

If FBR fails to meet the target by the end of the first quarter (July-September), the International Monetary Fund (IMF) may push Pakistan for a mini budget in order to seal $7bln loan deal, the sources said.