Pakistan Economically Enslaved By IMF, Laments PM Shehbaz

Pakistan Economically Enslaved By IMF, Laments PM Shehbaz
Prime Minister Shehbaz Sharif has said that Pakistan is "economically enslaved" by the International Monetary Fund (IMF).

Currently, the country is facing economic crisis and seeking financial assistance on an emergency basis due to rupee devaluation, depleting foreign reserves and delay in the IMF's loan disbursement.

Talking to journalists in Peshawar today, the Prime Minster questioned, "What have we done since our Independence in the last 75 years when we are economically enslaved by the IMF?"

He also said that the incumbent government would take decisions that would steer the country out of every crisis.

Earlier during his visit to the rain-affected areas of Khyber Pakhtunkhwa, Prime Minister Shehbaz said that the federal and provincial governments must work together to ensure the prompt rehabilitation of those impacted by monsoon rains.

He urged the provincial government to increase the existing compensation for the deceased from Rs0.8 million to Rs1 million, in order to bring it into line with that of the federal government.

Last month, the international financial institution and Pakistan had reached a staff-level agreement for loan disbursement after months of the government’s strict economic measures.

Earlier this week, IMF’s Resident Representative for Pakistan Esther Perez had said that the country has fulfilled the final prerequisite of raising the petroleum development levy for the combined seventh and eighth reviews.