International Monetary Fund acting tough against Pakistan

Islamabad: Pakistan’s foreign reserves have fallen to the lowest level in the last ten years, leaving only three billion dollars in the country’s treasury. This will enable Pakistan to import in only a few days. The Prime Minister of this country complained that while Pakistan’s economy is in crisis, the International Monetary Fund has stalled negotiations instead of assisting Pakistan. The Monetary Fund had earlier warned Pakistan that if it did not take necessary decisions for fiscal discipline by increasing fuel and electricity rates, it would not get loan assistance.

A few days ago, the government of Pakistan had to increase fuel prices by Rs 35 per day. It has had a terrible effect on the people. People are pelting stones in the name of the government of Pakistan, which takes this decision. Following this, the International Monetary Fund demanded that Pakistan increase the electricity tariffs significantly. At present, the officials of the Mint are in Pakistan and are discussing with the Government of Pakistan.

In this negotiation, the Government of Pakistan is trying to get loan assistance of a few billion dollars as fast as possible from the Monetary Fund. But keeping in mind the previous experience, the International Monetary Fund has set strict conditions in front of Pakistan. So far, Pakistan has received loan assistance from the International Monetary Fund 23 times. Every time Pakistan took this loan, it showed readiness to accept the conditions of the monetary fund. But Pakistan refused to accept many of these conditions. After realizing that this country is not ready to follow financial discipline under any circumstances, the Monetary Fund warned the government of Pakistan that before giving new loans, you should implement the things you have accepted.

Due to this, a few days ago, the government of Pakistan had to increase the fuel price by 35 rupees. However, the government of Pakistan is hesitant to take this decision, realizing that if the price of electricity is increased, it will have to face the people’s agitation. Thus, Prime Minister Shehbaz Sharif is complaining that International Monetary Fund is harsh with his government.

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