Government criticize PTI “for putting at risk IMF deal”
The coalition government on Friday took exception to PTI’s “attempts to jeopardize the IMF loan program”.
Fund’s board meeting on Monday, with Finance Minister Miftah Ismail, made an appeal wholehearted to shun politics at a time. when unparallel floods have caused havoc on every corner and cranny of the country.
The late-night statement was part of a series of events emerging out of the letter written on Friday by KP Finance Minister Taimur Khan Jhagra to his federal counterpart Miftah Ismail. In the letter, Mr. Jhagra informed Mr. Ismail. He said that his KP administration might find it difficult to run a provincial surplus this year in view of flood-related damages.
Mr. Jhagra said running a surplus would be “next to impossible”. If the federal government didn’t resolve certain issues, such as budget allocations for ex-Fata, monthly transfers of net hydel profits as per agreed terms, immediately reviving the National Finance Commission award, etc.
Reacting to the letter in his second presser of the day late in the night. Finance Minister Ismail criticized what he called PTI’s “attempts to sabotage the IMF deal”.
Addressing the press conference alongside Information Minister Marriyum Aurangzeb. The finance minister said throwing a spanner in the works at this stage might destroy Pakistan’s economy.
He regretted that the PTI was “doing politics” at a time when rain-induced floods have affected millions of families across the country. “If you can’t stop politics even at this time, let the country go to default,” he thundered.
However, Mr. Ismail hoped the matter would be settled when he meets Mr. Jhagra on Monday. “Taimur Jhagra is an honorable man,” he said. Also, he said adding the KP minister had told him that he hadn’t forwarded the letter to the IMF. An allegation earlier doing the rounds on the media. “I hope the IMF will approve the program on Monday,” he said.
Mr. Ismail also slammed PTI leaders and former ministers Fawad Chaudhry and Shaukat Tarin. PTI leaders suggested that Punjab and KP governments would not cooperate with the federal government over the IMF program.
IMF free on a bail package
The finance minister said the IMF executive board would meet on the night between Aug 29 and 30. and approve the loan tranche for Pakistan. He said Pakistan had fulfilled all the requirements of IMF and would receive the next tranche after the board meeting.
He refuted rumors that the government was planning to sell Roosevelt Hotel in New York, which is owned by Pakistan International Airlines, or the airline itself, to Qatar. There have been no talks in this regard, he added.
The Gulf country interest in leasing Pakistan’s airports. Qatar’s interest in the long term and managing them, constructing terminals at ports, LNG plants, and large-scale solar farms. He said, adding that Qatar may also invest in the stock market.
The minister welcomed Qatar’s announcement of investing $3bn in Pakistan, saying that with this amount, Pakistan had collected $5bn in funding compared to the IMF’s demand of $4bn.
I am a dedicated student currently in my seventh semester, pursuing a degree in International Relations. Alongside my academic pursuits, I am actively engaged in the professional field as a content writer at the Rangeinn website.
