Pakistan Economic Crisis: Pakistan, the victim of economic plight, wants foreign funds to improve its condition. For this, the government there had appealed to the International Monetary Fund (IMF). The IMF had told the Pakistani government to learn to behave like a country and avoid raising the collected amount in subsidy-like facilities. But, Pakistan, which is struggling with poverty, has now hit its own foot.
The Pakistani government has announced subsidy on petrol and wheat flour, due to which the International Monetary Fund (IMF) has expressed displeasure. The IMF has questioned the intention of Shehbaz Sharif’s government to subsidize fuel and said that no advice was taken in this regard. After raising objections from IMF, now the possibility of Pakistan getting an economic package from this global agency has become bleak.
The Shahbaz government shot itself in the foot!
According to the Pakistani newspaper Express Tribune, the Pakistani government has announced a petrol subsidy worth billions of rupees in the country. Apart from this, it is going to give subsidy of 73 billion rupees on wheat flour. It is being told that the government will now give a subsidy of Rs 50 per liter on petrol to the people having 800 cc cars and motorcycles. This development has happened at such a time when China announced a loan of crores of dollars to it.
Pakistan has more than $ 100 billion foreign debt
In the news of the Tribune, quoting sources, it has been said that the IMF has also questioned the source of financing the petrol scheme of Shahbaz Sharif’s government. IMF has also wanted to know how his government will implement the subsidy scheme. IMF officials have objection that on the one hand the Pakistani government is asking for loans from the countries of the world, while necessary steps are not being taken for that. For example, the Pakistani government did not take any advice from the IMF regarding its fuel subsidy. All this was done even when Pakistan has a foreign debt of more than 100 billion dollars.
IMF asks for answers from Pakistan
On behalf of IMF representative Esther Perez, it was said that on her behalf efforts are being made to know the operation, expenditure, target and measures to avoid fraud of the subsidy scheme of the Pakistani government. At the same time, the Government of Pakistan says that it is giving relief to the poor. On the other hand, just a few days ago, IMF Managing Director Kristalina Georgieva (IMF MD Kristalina Georgieva) scolded the Pakistani government. Georgieva had said that they (Pakistani government) should learn to behave like a country, it will not work that taking money from us benefits the rich. Apart from this, the IMF had even said that the Government of Pakistan should take a loan of 6 billion dollars from its friendly countries.
