IMF Loans Never Lead to Progress: Economist
The International Monetary Fund (IMF) programmes, according to renowned economist Dr. Ashfaque Hasan Khan, are to blame for Pakistan’s rising unemployment, poverty, and inflation. He also asserts that no country that has implemented an IMF programme has ever advanced.
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The discussion revealed that for Pakistan to continue participating in the $6 billion IMF programme, a dozen requirements must be met within six months. Yet, these requirements will increase peoples’ financial burdens by Rs. 1500 billion.
Dr. Ashfaque claimed that the government is overburdening the populace by imposing higher taxes in the forthcoming budget in response to pressure from the IMF, despite rising unemployment and declining purchasing power in the face of skyrocketing inflation.
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According to Dr. Ashfaque, not a single special economic zone (SEZ) being built as part of the CPEC programme has been finished or turned into a working SEZ. He underlined that the prime minister should put up a strong economic team that is capable of addressing and resolving the economic problems.
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