Peshawar
Advisor to KP Chief Minister of Finance and Interprovincial Coordination Mr. Muzzammil Aslam has said in his response to the IMF program that Pakistan has been in the IMF program since 1959 and has received 24 IMF programs so far while only one of these 24 programs has been taken by Imran Khan and out of that only half of the money was borrowed.
These views were expressed by Khyber Pakhtunkhwa Advisor on Finance and Inter-Provincial Coordination Muzamil Aslam in a statement issued on Sunday. Muzzammil Aslam said that out of these 24 programs, seven programs have been taken by military governments while the remaining 17 programs have been taken by political governments, in which PDM (PML-N plus PPP) has taken 17 programs.
KP Advisor on Finance said that Prime Minister Shahbaz Sharif government has entered the IMF program three times in two years, Shahbaz Sharif claims that this will be the last program, is it true? KP Advisor on Finance said that IMF new projections are actually very disappointing that GDP forecast reduced to 3.2 percent from 3.5 percent while average inflation at 9.5 percent but by end of June inflation will be at 10.5 percent which means current slowdown is temporary.
Mr. Aslam said that Current account to 0.9% from 1.2% due to IMF package. He said that The Forex reserves are also downgraded to 12.8 billion dollar from earlier 13.3 billion dollars.
Muzzammil Aslam said that general government debt may increase from 69.2 percent to 71.4 percent of GDP while the public and publicly guaranteed debt is projected to rise from 73 percent to 75.1 percent of the total size of economy.
