ISLAMABAD: Pakistan People’s Party (PPP) has alleged that the government accepted the International Monitory Fund (IMF)’s ‘unacceptable terms’.
“Billions of rupees were taxed on the people for a $1 billion tranche. There is no need to celebrate the $1 billion loan,” PPP Vice-President Senator Sherry Rehman tweeted on Thursday.
The PPP leader said stability in the economy does not come from the IMF loans but from economic policy, which the government do not have.
“The party which has been pursuing the policy of not going to the IMF, today its ministers are expressing happiness on receiving the tranche of IMF loan programme,” she said in response to Finance Minister Shaukat Tarin’s video statement regarding the IMF tranche.
They bulldozed the mini-budget for a $1 billion instalment, putting the burden of inflation on the people, she said. She said that the government increased foreign debt of Pakistan by 60 per cent in just three years.
“This government has borrowed Rs20.7 trillion, which is the highest loan ever taken by any government in Pakistan. Due to this, the total debt has exceeded Rs50 trillion. The debt-ridden government is taking loan of more than Rs17 billion every day,” she said.
Copyright Business Recorder, 2022