Dar says everything required to conclude IMF deal \u201cnow complete\u201d
\n islamabad
\nRubbishing rumours that officials from International Monetary Fund (IMF) refused to meet him at the Bretton Woods institutions\u2019 spring meetings, Finance Minister Ishaq Dar on Saturday clarified he postponed his visit to the US on Prime Minister Shehbaz Sharif\u2019s request \u2014 in view of the political situation.
\n\u201cPakistan is a member of the IMF and not a beggar,\u201d Dar said in a fiery speech addressing rumours that he decided to postpone his trip due to resistance from the Washington-based lender.
\nHe emphasised that IMF \u201ccannot stop me from attending the spring meetings\u201d.
\nDar was expected to attend the spring meetings of the World Bank-IMF that were taking place from April 10 to 16 in Washington.
\nMeanwhile, he was also scheduled to meet the IMF management for holding talks regarding the removal of bottlenecks for the revival of the derailed $6.5 billion programme.
\nIslamabad has been negotiating with the IMF since the end of January for the release of $1.1 billion from a $6.5 billion bailout package agreed upon in 2019. To unlock the funding, the government has cut back on subsidies, removed an artificial cap on the exchange rate, added taxes and raised fuel prices.
\nHowever, assurances from friendly nations for additional funds have delayed the agreement.
\nThe finance minister \u2014 who was sworn in last year in September \u2014 said these are routine rituals, emphasising that a \u201cconstitutional crisis has been created in Pakistan.\u201d
\n\u201cThe Ministry of Finance has a huge responsibility regarding the disbursement of funds to the Election Commission of Pakistan (ECP) in light of the Supreme Court\u2019s April 4 ruling.
\nEarlier this week, the apex court declared the ECP\u2019s decision on the Punjab and Khyber Pakhtunkhwa (KP) election null and void, ordering to hold snap polls in Punjab on May 14 \u2014 a persistent demand forced by Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan after he dissolved the assemblies in both the provinces.
\nHe said that the Supreme Court has ordered for the federal government to give $21 billion for elections in Punjab by April 10. \u201cOf course, the finance ministry and the cabinet have an important responsibility in this regard, and I\u2019m a part of it,\u201d he said.
\n\u201cDue to these circumstances and on the prime minister\u2019s directives, I have dropped my plan to visit Washington [physically]. This is not an unusual thing. Virtual meetings took place during COVID. I will be attending the World Bank, and IMF meetings that I\u2019m required in from Islamabad.\u201d
\nThe minister said that even though he won\u2019t be attending the meetings in person, a delegation representing Pakistan, which comprises State Bank of Pakistan Governor Jameel Ahmad, Finance Secretary Hamed Yaqoob Sheikh and Economic Affairs Secretary Kazim Niaz, will be there.<\/p>\n","protected":false},"excerpt":{"rendered":"
Dar says everything required to conclude IMF deal \u201cnow complete\u201d islamabad Rubbishing rumours that officials from International Monetary Fund (IMF) refused to meet him at the Bretton Woods institutions\u2019 spring meetings, Finance Minister Ishaq Dar on Saturday clarified he postponed his visit to the US on Prime Minister Shehbaz Sharif\u2019s request \u2014 in view of […]<\/p>\n","protected":false},"author":2,"featured_media":307834,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-324665","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business"},"yoast_head":"\n