Agreement matter between IMF and government of Pakistan are going on from many days yet due to confusion in matters of economic and financial policies IMF mission’s departure from country without any final agreement.
This indicated that there is still large gaps to be covered. The 10 days loan talks ended unsuccessfully due to domestic and external imbalances. Pakistan financial position is currently going down day by day and IMF statement stresses the needs for permanent revenue measures in country to strengthen economy.
Ishaq Dar explanation on IMF deals
Finance Minister Ishaq Dar addressed a press conference but failed to explain the clear picture of both sides point of views. He only explained about the impose of Rs 170 billion tax from Islamabad. It will increase the rates of gas and energy, increase diesel by Rs 10 to 50.
Pakistan has so far seem it tough to deal with funds conditions from last few months due to weak economy. Therefore the officials failed to convince IMF for softening some funds conditions and settle on mid-way for Pakistan.
The public don’t know what exactly the final agreement between Pakistan and IMF but it seems clear that measure to put economy back on track will create hardship for citizens, and these difficulties can no longer be avoided by local people of Pakistan.
The talks between IMF and government not ended on good terms and this will worsen the situation more, the government should learn some lesson from Sri Lankan economy and save the country before any bigger blast.