Pakistan bowed before the IMF to avoid poverty, this burden was imposed on the public amid low income and high inflation. Pakistan bowed down to IMF to avoid poverty, due to decreased income and increased inflation

Pakistan- India TV Paisa
Photo: AP Pakistan

escape the pauper Pakistan has bowed down to the conditions of the International Monetary Fund (IMF). The Government of Pakistan has increased one more burden on the people of Pakistan suffering due to Corona and floods. The Government of Pakistan has approved the imposition of new taxes on all electricity consumers, including farmers, to satisfy the IMF. With this, the government is expected to get an additional revenue of Rs 170 billion. The Government of Pakistan gave this information in an official statement. This step is being seen as a condition placed by the IMF.

If you want relief package then take strict steps

Before releasing a new installment of $ 1.1 billion under the relief package, the Monetary Fund had asked to take some tough steps. An IMF delegation held talks with Pakistani officials for 10 days regarding the release of the tranche but returned to Washington on Thursday without signing a staff-level agreement. Finance Minister Isaac Dar, the head of the Pakistani side in the talks, said on Friday that some concrete steps are needed to speed up the talks. Both sides will resume talks through virtual medium from Monday. Hours later, Dar chaired a meeting of the Economic Coordination Committee (ECC) of the Cabinet which decided to increase power tariffs.

Didn’t even give relief to the farmers

The ECC approved the discontinuation of power tariff subsidy on zero-rating industries as well as the Kisan package to meet IMF preconditions. This order will be considered effective from March 1. Pakistan’s foreign exchange reserves, facing a cash crunch, have remained less than three billion dollars. To avoid financial collapse, it is in dire need of financial help and a relief package from the IMF at this time.

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