(April 30-2023) Brig. (retd) Aslam Khan, Chairman of Pakistan Economy Watch (PEW) on Sunday said the conditions of the IMF are not coming to an end which is a conspiracy.
He said that the real target of the international institution is CPEC therefore, it wants to delay the loan to weaken Pakistan so that it is made to obey orders that are against its national interests.
The lender will not give a loan to Pakistan until we step back from CPEC. “That is why, despite fulfilling dozens of conditions, the IMF continues to make lame excuses,” he added.
Aslam Khan said that the lame justifications of the IMF have made its intentions clear to all, so Pakistan should part ways with it as soon as possible.
He said that Pakistan will have to learn to live without the IMF, for which elitism will have to be abandoned.
Due to the delay in the agreement between Pakistan and the IMF, the country’s economy has been greatly affected, and the public has also had to pay a heavy price for it.
According to many economists, due to the current economic conditions in Pakistan, the country has no option other than the IMF, as other international financial institutions and many countries have linked the loan to Pakistan with the revival of the IMF programme.
He noted that further loans will be available to Pakistan only after the issuance of instalment by the lender.
He said that the delay in agreement with the IMF has created a situation of uncertainty resulting in the depreciation of the rupee, loss of investment, and adverse effects in the financial market, due to which Pakistan’s credit rating continues to decline.
The depreciation of the rupee has made many things expensive, as everything from food to oil is imported.
The decision to suddenly increase electricity, gas, and interest rates was wrong, which has put a lot of burden on the people and the business community.
The government should try hard to get out of the clutches of the IMF as soon as the situation improves, he demanded.
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Brig. (retd) Aslam Khan
Chairman Pakistan Economy Watch
