PM Warns of More Burden on People After IMF Deal
On Tuesday, Prime Minister Shehbaz Sharif expressed his belief that the conditions imposed by the International Monetary Fund (IMF) would place an even greater burden on the people. During an interview on the Geo News program Capital Talk, the Prime Minister attributed the IMF’s harsh conditions to the previous government’s failure to comply with previous commitments.
He acknowledged that many in Pakistan are struggling to meet basic needs such as food, medicine, and education, and stated that former Prime Minister Imran Khan had brought Pakistan dangerously close to default and damaged its relationships with several friendly countries.
Read More: Weekly Inflation Soars to 42% Due to Higher Food and Fuel Prices
Despite these challenges, the Prime Minister claimed that his government has provided relief to those in need through the Benazir Income Support Program, and attributed the country’s inflation to the increased cost of imported goods resulting from the Russia-Ukraine conflict.
However, it is worth noting that Pakistan is currently experiencing the highest inflation rate in almost 50 years, and has been struggling to secure financing from friendly countries, which has delayed the IMF bailout.
In a recent statement, IMF Managing Director Kristalina Georgieva emphasized the need for Pakistan to increase tax revenue and distribute subsidies more fairly to those in need, while also protecting the country’s poor.
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