IMF Loan Pakistan: Bringing flood victims to the fore, pleading for help, still IMF’s heart is not getting tired, Pakistan’s difficulty increased

The deteriorating economic condition of Pakistan has loosened the attitude of the rulers there. The situation has become such that they have started begging in front of the International Monetary Fund (IMF). Not only this, Pakistan’s minister Bilawal Bhutte was seen requesting the IMF for loan in front of the flood victims. But even after all the exercises, it seems that the bowl of Pakistan is going to remain empty. To save Pakistan’s economy going into the abyss, a team of International Monetary Fund has been camping in Pakistan for the last several days. The tour is finally coming to an end on 9th February. But even after a long round of talks, there is no consensus on the bailout package between Pakistan and the IMF. The standoff between the two sides continues.

Let us tell you that the bailout package from the International Monetary Fund has been waiting for a long time. But every time the IMF puts forth one or the other thing, after which Pakistan’s Prime Minister Shehbaz Sharif gets into trouble. The International Monetary Fund does not trust the promises being made by the Government of Pakistan. Apart from this, the IMF does not believe in the credibility of the things that have been said about giving loans to Pakistan from other countries. At the same time, Pakistan’s leading newspaper ‘The Dawn’ quoted a senior government official as saying that till Wednesday night, we have not received the draft MEFP. The final decision in terms of both fiscal measures and external funding sources is to be taken by the IMF.

What are the terms and conditions of INF?

The IMF wants Islamabad to make efforts to shore up its incredibly low tax base. It further wants Prime Minister Shehbaz Sharif’s government to end tax exemptions for the export sector. According to Pakistani media reports, the main point of contention is the IMF’s expected hike in the prices of petrol, electricity and gas. Islamabad says it is meant to help low-income families. The IMF is also pushing Pakistan to keep a sustainable amount of US dollars in the bank through guarantees from friendly countries Saudi Arabia, China and the UAE, as well as further support from the World Bank.