ISLAMABAD: The IMF delegation will arrive in Pakistan today while the federal government has indicated to hold talks on the long-term program with the International Monetary Fund.
According to the details, the new Finance Minister Muhammad Aurangzeb started the process of negotiations with the IMF as soon as he assumed power. Informing the public about the financial difficulties, the finance minister said that there would be talks with the IMF this week, the time has come to take practical steps instead of negotiations.
The finance minister, who took oath of office 2 days ago, said in a statement that the current financial year would be difficult, not just negotiations, the time has come for practical measures. “Pakistan will send a formal request for talks to the IMF, as it is of utmost importance to the country’s economy,” he said.
According to a media report, Pakistan will request the IMF to start negotiations for a mid-term bailout package under the facility of the $6 billion expansion fund, while the finance minister says that we will take a bigger and longer-term program from the IMF. are willing to
In his recent statement, Muhammad Aurangzeb said, “We will bring wholesale, retail, real estate, and agricultural income into the income tax net.” He maintained, “There is a trend of decreasing inflation in the country while the interest rate will also be lower. Pakistan will take commercial financing and launch bonds.”
Imran Khan’s letter and IMF’s reaction
During the second week of this month, the IMF reacted to the letter of founder PTI Imran Khan and said, “We do not comment on the political affairs of any country.”
Earlier in the letter written to the IMF, Imran Khan said that the IMF should keep good governance and other conditions before giving the financial program to Pakistan.
4 days ago today, IMF Representative (Pakistan) Esther Perez, while reacting to Imran Khan’s letter, said that the letter written by Imran Khan was received on February 28. “We have limited interference in the economic affairs of the countries concerned,” Perez said by adding, “Avoid commenting on political matters.”
What’s with the limited reaction?
Interestingly, when Imran Khan indicated writing a letter to the IMF, various politicians of the country gave the impression that in response to the letter, the IMF may stop the loan given to Pakistan.
However, some realistic politicians and analysts clarified that the IMF is a global financial institution that does not have a mandate to interfere in the political affairs of any country, nor does it want to be criticized at the global level for commenting on political affairs.
