Continuous reliance on foreign loans and IMF support is alarming. Nations do not become stable through debt. – Provincial Convener APP Balochistan
The government should promote fiscal discipline and regional trade instead of depending on the IMF. The agreement provides temporary relief only.
Karachi : Syed Aman Shah, Provincial Convener of Awam Pakistan Party (APP) Balochistan, has expressed deep concern over Pakistan’s growing foreign debt and continuous reliance on IMF support. He urged the government to focus on fiscal discipline, sustainable economic reforms, and the promotion of regional trade to free the country from the repeated trap of debt.
Commenting on the recent IMF staff-level agreement, Syed Aman Shah said that although the agreement provides temporary relief, it does not address the root causes of Pakistan’s economic instability.
Syed Aman Shah stated, borrowed money does not stabilize nations; it only manages the figures. The real crisis lies in excessive non-development expenditures, poor governance, and financial corruption. Until these issues are resolved, every new loan will only deepen the country’s long-term problems.
He emphasized that the solution to Pakistan’s challenges lies in better tax management, reduction of unnecessary government spending, and the promotion of regional trade. He pointed out that regional trade accounts for only six percent of Pakistan’s total trade volume, despite the country’s strategic location at the crossroads of South Asia, Central Asia, and the Middle East — which naturally positions Pakistan to be a regional trade hub.
He further said, “We should strengthen trade relations with China, Turkey, Iran, and Central Asian countries so that we can achieve stability through trade instead of loans.”
Advertisements
