KARACHI
\nBlaming Finance Minister Ishaq Dar for sabotaging the deal, PML-N leader Miftah Ismail claimed that International Monetary Fund (IMF) was not interested in releasing money to Pakistan as the Washington-based lender had no trust in Islamabad government.
\nSpeaking during a session titled \u2018Pakistan in the Midst of Crisis\u2019 organised by a private university in Karachi, former finance minister said when he was heading the Ministry of Finance he spoke to the IMF officials and assured them that Pakistan would not make false statements or violate the agreement; however, when Ishar Dar was sworn in \u2018he sabotaged the agreement\u2019.
\nHe recalled that Pakistan had three times made sovereign commitments and then backtracked on them. \u201cNow the IMF is not interested in giving money to Pakistan,\u201d he said, emphasising that the Fund doesn\u2019t trust the government in Islamabad.
\nPakistan continues to woo the International Monetary Fund (IMF) to secure the much-needed bailout from the global lender. Pakistan is now the only South Asian country that\u2019s yet to secure a bailout from the multilateral lender as Sri Lanka clinched financing this week and Bangladesh pushes on with carrying out IMF-mandated reforms.
\nPakistan has taken tough measures including increasing taxes and energy prices, and allowing its currency to weaken to restart a $6.5 billion IMF loan package. The funds will offer some relief to a nation still reeling from a dollar shortage that has raised the probability of the economy slipping into a recession ahead of elections this year.
\nRegarding the petrol relief subsidy announced by the government on Sunday, Miftah said that he believed this formula would not be effective. \u201cWe provide subsidies on petrol by taking loans,\u201d he said.
\nMiftah warned that if Pakistan defaulted it would have grave consequences for the country as people <\/p>\n","protected":false},"excerpt":{"rendered":"
KARACHI Blaming Finance Minister Ishaq Dar for sabotaging the deal, PML-N leader Miftah Ismail claimed that International Monetary Fund (IMF) was not interested in releasing money to Pakistan as the Washington-based lender had no trust in Islamabad government. Speaking during a session titled \u2018Pakistan in the Midst of Crisis\u2019 organised by a private university in […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":{"0":"post-321371","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-top-news"},"yoast_head":"\n