ISLAMABAD: Former finance minister Miftah Ismail has claimed that the International Monetary Fund (IMF) is “not interested” in giving money to cash-strapped Pakistan as the government continues to woo the Washington-based lender.
While speaking at a session titled ‘Pakistan in the middle of crisis’ organized by a private university in Karachi, the Pakistan Muslim League-Nawaz (PML-N) leader Miftah Ismail said that when he was heading the Finance Ministry, he spoke to the IMF team and assured them that Pakistan would not violate the agreement or make false statements; however, when Ishar Dar assumed charge as the country’s finance minister, “he sabotaged the agreement.”
Miftah recalled that Pakistan had made sovereign commitments three times and has then returned on its own commitments.
Miftah Ismail says IMF don’t trust Pakistan’s govt
“Now the Washington-based lender is not interested in giving money to Pakistan,” he said, emphasizing that the Washington-based lender doesn’t trust the government in Islamabad.
Regarding the petrol relief subsidy announced by the government on Sunday, Miftah said that he believes this formula would not be effective. “We provide subsidies on petrol by taking loans,” he said.
Warning of the risks, Miftah mentioned that if Pakistan defaults, it will be a grave situation for the country as people belonging to the rich segment will bear the brunt, but the poor people won’t be able to make ends meet.
