The International Monetary Fund (IMF) terms, according to Prime Minister Shehbaz Sharif, will put an "additional load" on the populace.
The prime minister blamed the previous administration for the IMF's stringent requirements in an interview with the Geo TV program Capital Talk.
According to the prime minister, the previous administration broke its promises to the IMF, and as a result, the international lender is now insistent that Pakistan must adhere to all requirements. The prime minister acknowledged that many people in Pakistan struggle to pay for their children's education, buy necessary medications, and put food on the table.
In addition to straining Pakistan's ties with a number of allies, he stated that the country's previous prime minister Imran Khan had "nearly" defaulted on the land.
Yet, the premier emphasized that under the Benazir Income Support Program, his administration had helped the poor. He added that as commodity prices have increased since the crisis between Russia and Ukraine, the wave of inflation is also the result of the higher price of imported goods.
It is important to note that Pakistan's inflation is on track to surpass the nearly 50-year high of 29.3 percent seen in April 1975. The country is also having trouble getting financial support from friendly nations, which has put off the IMF rescue.
IMF Managing Director Kristalina Georgieva recently stated that the Fund had requested Pakistan to increase tax collections and have a fairer distribution of resources by only allocating subsidies to those who truly needed them. She stressed that the IMF has clarified that it wishes to protect Pakistan's underprivileged citizens.
0 Comments