imf loan to pakistan, IMF Pakistan Loan: IMF does not have ‘traitor’ trust on Pakistan… Why is it not giving loan in crisis? Ex finance minister Miftah Ismail says IMF doesn’t trust Pakistan

Islamabad : Former Finance Minister of Pakistan Miftah Ismail has claimed that the International Monetary Fund does not trust the Pakistani Finance Ministry. Ismail had managed to revive the stalled IMF loan program last year during his tenure. In an interview with Pakistani news channel Geo TV, the Pakistan Muslim League-Nawaz (PML-N) leader explained the issues that cropped up last year that broke the crucial agreement with the IMF and left the country in a dire economic crisis. drowned.

According to the report, Miftah Ismail said, ‘In the last year and a half, we made promises three times and then backtracked from them. Former finance minister Hafeez Sheikh made the commitments with the IMF during the fourth, fifth and sixth review meetings when Imran Khan was the prime minister of Pakistan. As soon as the IMF gave the money, Sheikh was removed from his post. “Then Shaukat Tarin comes and presents a budget that had nothing to do with the IMF programme. This was the first time we broke our promises. Apparently the IMF did not release the next tranche.

When Pakistan cheated the IMF

Ismail said, ‘ Tarin later presented a mini budget in November 2021 and agreed to a new IMF program as soon as the money arrived in February. But the Imran government again reduced the price of petroleum products. At that time, diesel was costing the government more than Rs 200 per liter but they were selling it for less than Rs 150. This was the second time we broke our promise. The former finance minister said that in April last year, he came to power and after a lot of difficulties, Pakistan got the IMF program again.

‘IMF does not trust Pakistan’

Miftah Ismail said, ‘I was fired as soon as the money arrived in September. Ishaq Dar came and said that I will renegotiate this program with the IMF… etcetera, etcetera. Our money and exports coming from overseas Pakistanis are on the floor and inflation is on the floor. I do not understand the meaning of all this and then we started the third agreement with the IMF. He said, ‘Now the IMF doesn’t really believe in Pakistan, but what will you do?’