The government led by Prime Minister Shehbaz Sharif is currently in a fix as the revival of the International Monetary Fund (IMF) loan program is essential for economic stability, while the “stringent conditions” imposed by the lender on the ruling coalition. can damage.
When the Pakistan Democratic Movement (PDM) assumed power in April 2022 after the removal of the then Prime Minister Imran Khan, the country was in a financial crisis due to the suspension of the credit facility and the government took some steps to revive it. . Difficult steps.
An economic team overseen by then-Finance Minister Miftah Ismail reached a deal with the IMF in late August after much effort, but the steps reached with the lender made things difficult for the coalition government.
There seemed to be an understanding within the government that these measures were necessary, however, Ishaq Dar – who was in London at the time – disagreed with Miftah’s policies and eventually managed to convince the party leadership that They can take the country out of crisis. A crisis without the IMF
After receiving the finance minister’s portfolio in September, Dar claimed he “knew how to deal with the IMF” and sought to open up other sources of financial assistance.
But all their efforts proved futile and the government agreed to accede to all the IMF’s demands, starting a debate on policies to fix the country’s dire economy.
Miftah also said that if these decisions had been taken earlier, Pakistan would have been in a better position than it is now.
The same question was also asked by Maryam Nawaz’s spokesperson Muhammad Zubair.
