Pakistan loan agreement not on IMF's table: Shabbar Zaidi
- By Web Desk -
- Apr 07, 2023
KARACHI: Former Federal Board of Revenue (FBR) Chairman Shabbar Zaidi has claimed that the International Monetary Fund (IMF) is not considering the loan agreement with Pakistan so far, ARY News reported on Friday.
While talking to the ARY News programme ‘The Reporters’, Shabbar Zaidi claimed that the IMF headquarters are not holding meetings related to the loan programme of Pakistan.
He said that Fund’s spring meeting is being held in the United States (US), however, there are no specific meetings related to Pakistan which itself a hint that the issue of our country is not on the IMF’s table.
The former FBR chairman claimed that the ruling government is failed to provide the economic way forward to IMF as the current financial minister Ishaq Dar has now realized the economic difficulties in the country.
He maintained that the IMF will release the next tranche if the current government will agree on the next conditions.
Zaidi said that due to the political crisis, the current government does not want to agree to the next IMF program, however, it will become a compulsion for the ruling government to agree with the next IMF program due to the financial crisis.
“IMF program is not a cure for any disease,” Zaidi said.
He added that inflation has put unbearable financial burden on the common man. He said that the government with a mandate is the only solution to steer the country out of the economical crisis.
Zaidi said that the ruling government did not launch any program for economic recovery in the last 12 months. He said that the coalition government did not issue any instructions to save electricity or keep the size of the cabinet small to cut the financial crisis.
He predicted that economic and political stability is not possible until general elections are held.
While answering a question, Shabbar Zaidi replied that the present government will not be able to delay the Punjab elections, however, the government will have to come to an agreement and the elections will be held in July.