PTI Fears 'Landmines' In Next Budget, Seeks Intervention From 'Multilaterals'

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2023-04-30T06:45:37+05:00 News Desk
The PTI leadership is "extremely worried" that the PDM would do the same to the economy at the end of their tenure, as the PTI did in March 2022, shortly before the end of Imran Khan's government. Since PTI is also overconfident that it will sweep the elections whenever they happen, one of their goals is to force the incumbent PDM government to formulate the coming budget strictly under International Monetary Fund (IMF) guidelines.

As the ruling PDM and opposition PTI are finally engaged in political negotiations regarding the date of the upcoming general elections, insiders say the PTI's biggest concern is that if the National Assembly is not dissolved soon, then the PDM could present a budget that would prove to be a yorker for PTI if it wins the elections.

On Friday, PTI leader and former federal minister for economic affairs Hammad Azhar tweeted that the budget for the next financial year should be designed wisely and should involve consultation with "multilaterals", in an oblique reference to international financial institutions such as the IMF, which right now is the solitary lifeline keeping Pakistan's economy from defaulting.

"It is important that finance minister Ishaq Dar stops playing games with the economy," he said, alleging that the PDM government had "already inflicted massive damage".

https://twitter.com/Hammad_Azhar/status/1651865283055738881

It is now becoming clear that PTI expects to form the next federal government, which is why it wants the next budget to be approved by the IMF. So it wants to ensure that the PDM follows the IMF recommendations for the budget. But for PTI, the ideal situation would be if the PDM dissolves the National Assembly before the budget is due.

Another senior PTI leader was also quoted as saying, "The real issue is the budget for the next financial year. We want the budget to be presented by the caretaker government or the new government because the current rulers want to present a political budget for the next year which could be disastrous for the country".

Sources say the IMF is also waiting for the budget for the coming fiscal year 2023-24. If the PDM government introduces a 'political budget', it is possible that the IMF could revoke all financial assistance.
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