Pakistan Economic Crisis: Expensive diesel, 170 billion tax bomb… These are the cruel conditions of IMF for Pakistan, if Shahbaz agrees then people will not be well! – pakistan financial crisis imf tough conditions for shehbaz sharif government price hike in pakistan
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There are many differences between the monetary policy of the Government of Pakistan and the conditions of the IMF, under which the people are being burdened. Lenders want to see some structural reforms in the country before lending more money to Pakistan. Last Friday, after the IMF chiefs left Pakistan, the country’s Finance Minister Ishaq Dar held a media briefing. “The Prime Minister has said that we are committed… Whatever is agreed upon between our teams, we will implement it,” he said. He told that the government has received the Memorandum of Economic and Financial Policies (MEFP) from the IMF.
draconian conditions of the IMF
MEFP is an important document that contains all the conditions, steps, policy measures based on which both the parties involved in the talks announce the staff-level agreement. Some of the policies included in the MEFP are – implementing a tax of 170 billion Pakistani rupees after approval from the cabinet, increasing the tax on diesel, implementing energy reforms, reducing subsidies in the gas and power sectors, and ensuring that gas The increase in circular debt of the sector should be zero.
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Even if the conditions are accepted, it will take months to get the money
These conditions of IMF can increase the additional burden on the public which is already suffering from many problems. Furthermore, even if the IMF and Pakistan reach an agreement, the release of the funds will take weeks, possibly months. But Pakistan does not have much time left as the country now has only a few weeks of import funds left. Domestic instability rather than external factors is responsible for the current crisis in Pakistan.
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