Pakistan Economy: Can’t accept all the conditions of the loan giver, Pakistan is eyeing the dole giver only

Although the economic condition of Pakistan is in a bad state these days, but still the arrogance of the money dependent country is not taking the name of reducing. Pakistan has started showing eyes to the IMM from which it needs bailout. Let us tell you that the IMF had recently criticized Pakistan’s budget. Pakistan felt bad about this. Pakistan’s Finance Minister Ishaq Dar responded within hours to the IMF statement, saying that Pakistan is a sovereign country and cannot accept all the terms of the lender.

Addressing the Pakistani Senate’s Standing Committee on Finance and Revenue, he responded to the IMF’s objection to tax exemptions given in the recently presented budget. Dar said that Pakistan is a sovereign country and cannot accept everything from the IMF. IMF wants us not to give tax concessions in any sector. Pakistan’s Finance Minister Ishaq Dar said that Pakistan and the International Monetary Fund (IMF) are on-going and the talks have not failed nor is the negotiation phase over. Dar informed that the ninth review of the IMF program will be completed this month. He said that our talks with the IMF are going on and it is not complete yet. We have already paid, for which Fitch raised concerns.

IMF expressed dissatisfaction over the recently presented budget of Pakistan. Pakistan has barely enough currency reserves to cover one month’s imports. It had hoped to release $1.1 billion in funds in November, but the IMF has insisted on a number of conditions before making further disbursements.