No doubt the International Monetary Fund (IMF) has taken an unprecedented step by reaching out to political stakeholders, including Pakistan Tehrik-e-Insaf (PTI) chairman Imran Khan, ahead of the meeting of its executive board which is likely to accord its approval to 9-month USD 3 billion Stand-by Arrangement (SBA), much to the chagrin of Pakistan Muslim League-Nawaz-led government.

It is heartening to note that the PTI has shown its support to the overall objectives and key policies of the staff level agreement that the IMF has reached with the government of Pakistan for SBA.

PTI, reportedly, made its position clear in relation to IMF SBA after an IMF team led by its Resident Representative Esther Perez called on PTI Chairman Imran Khan at his Zaman Park residence in Lahore on Friday.

Moreover, IMF Country Chief Nathan Porter joined the meeting through a video link from Washington which was also joined by the PTI’s economic team, including PTI Vice Chairman Shah Mehmood Qureshi, and others.

PTI deserves praise for responding to the IMF initiative in a highly responsible manner as it has decided against throwing a spanner in the IMF-government works. Earlier, the Fund’s team had met a Pakistan People’s Party team that expectedly comprised former finance minister Saleem Mandviwalla and incumbent commerce minister Naveed Qamar in this regard.

What has clearly emerged from such a rare IMF contact with political parties is Fund’s cautious approach to its lending as it is exercising greater prudence in relation to the country’s future course of politics.

From PTI’s perspective, this development has taken place unexpectedly but is particularly welcome for it has enormously added to its confidence to remain in contention despite profound enormity of post-May 9 challenges to party chief’s future in politics.

Zahid Hilali,

Islamabad

Copyright Business Recorder, 2023