New Delhi: Pakistan’s Prime Minister Shahbaz Sharif has accepted that the International Monetary Fund (IMF) has set very strict conditions for giving $ 1.2 billion. Sharif said the conditions set by the IMF are stricter than what we expected, but what to do? We have no other option. Rupee (Pakistani Currency) has become 274 against the dollar. Shahbaz Sharif said on a TV channel, I cannot tell you the details, but I would definitely say that the condition of our economy is beyond your imagination. IMF has imposed very strict conditions for money, but we have no option but to accept them. The IMF team reached Islamabad on 31 January and will remain there till 9 February.
Inflation will double to reach 55%
Many conditions have to be met before the IMF gives a loan. IMF has imposed very strict conditions. Not only this, but he has also sought political guarantees to fulfill all these conditions. IMF wants the Government of Pakistan (Pak Govt) to increase the prices of electricity and fuel by 60%. Tax collection has been asked to double. Therefore, on February 9, the talks between the IMF and the Shahbaz government will end and if the government accepts these conditions, it is believed that inflation will almost double to 54 to 55 percent. Simply put, if inflation doubles, people will come out on the streets and Shahbaz Sharif’s chair will go away.
274 rupees against Pakistani currency dollar
On the other hand, Imran Khan is waiting for the same opportunity. However, Imran has the biggest hand in bringing the country to this plight. Pakistan’s foreign debt doubled during his four-year tenure. A major embarrassment for the government is that around 6,000 containers are currently parked at the Karachi port. They could not be landed because the banks did not have dollars and payments were not coming through. The Pakistani rupee is also falling rapidly against the dollar. On Thursday, the Pakistani currency was priced at Rs 274 against the dollar. Last year the same rate was Rs 127.
Will give political guarantee along with other conditions
According to a report, the IMF has said that it will release $ 1.2 billion only if the Government of Pakistan gives a political guarantee along with other conditions. A political guarantee simply means that if another party, for example, Imran Khan’s party (PTI) comes to power, it will not go back on any promise. The problem is that Imran will not accept promises made by any other political party. So what will the IMF do? That’s why it is believed that the government will fulfill this condition by bringing an ordinance to Parliament.
