December 3, 2022
2 mins read

‘Pakistan won’t plead to IMF’: Dar on delay in funds

Finance Minister Ishaq Dar stated that the delay was not because of discrepancies within Pakistan’s positioning and standing and went on to criticise IMF’s “abnormal behaviour”, stating that Pakistan will not plead to the global lender nor will take any dictation from it, reports Hamza Ameer

At a time when Pakistan, under the current coalition government of Prime Minister Shehbaz Sharif, is facing a towering challenge of reviving its economic and financial conditions and prevent from moving towards a complete meltdown, Finance Minister Ishaq Dar has expressed his displeasure over the delay in the ninth International Monetary Fund (IMF) review, saying that he will not bow down to what he termed as “dictation” of the IMF.

Talking to a local media outlet, Dar said that he was not concerned whether the IMF team arrives or not to assess and finalise the pending review of the country’s $7 billion Extended Fund Facility (EFF).

The Minister said that the IMF team is more than welcome to visit as the compliance details for the ninth review was “completely in order”.

“I do not care if they come, I don’t have to plead before them. I have to look at Pakistan’s interest first,” he said.

Dar further stated that the delay was not because of discrepancies within Pakistan’s positioning and standing and went on to criticise IMF’s “abnormal behaviour”, stating that Pakistan will not plead to the global lender nor will take any dictation from it.

“I have reassured them that our ninth review is in order and you should come and give Pakistan the $500 million funds,” he said.

The Minister further said that if the IMF review team does not come to Pakistan for the review, Islamabad has already formulated a plan to manage the financial situation by getting support from “friendly countries”.

Prime Minister Shehbaz Sharif

“If they don’t come then we will manage, no problem,” he added.

Part of which has already started to come as Saudi Arabia has agreed to extend term of $3 billion deposit for another year, shoring up the country’s foreign exchange reserves and giving fuel to domestic economy.

However, when Dar was questioned about his rigid positioning on the IMF and its worrisome implications and fallout, he stated that he understands the potential fallout of a breakdown in the talks, which was why he was still talking to the lender.

“I know how to complete the IMF programme. The government will not only complete the current programme, it will also make its payments in time and as per schedule. We will not default,” the Minister emphasized.

ALSO READ: Pak envoy survives assassination bid in Kabul

Previous Story

G20: Focus on digital tech to support global economy

Next Story

India keeps close watch on Chinese ships in Indian Ocean: Navy Chief

Latest from -Top News

Europe Seeks Peace in Gaza

European countries condemn Israeli interception of Gaza-bound flotilla, demand safety of citizens…reports Asian Lite News Israel’s interception of an international flotilla carrying humanitarian aid to Gaza has sparked condemnation across Europe, with

GAZA: Egypt to Host Peace Talks

Egypt hopes the discussions will help “end the war and the suffering of the brotherly Palestinian people, which has continued for two consecutive years…reports Asian Lite News Egypt will host Israeli and

‘My Injuries Made Me’

During his four-year battle with injury, the incumbent fast bowling spearhead made occasional appearances but couldn’t bear the workload and demands of red-ball cricket….reports Asian Lite News England tearaway Jofra Archer believes

Hegseth Cuts Deep

US Defense Secretary Hegseth abruptly fired Navy Chief Jon Harrison in a major Pentagon shake-up….reports Asian Lite News US Defense Secretary Pete Hegseth abruptly dismissed Jon Harrison, the Navy Chief of Staff,

Japan Set for First Female PM

Takaichi, 64, defeated Agriculture Minister Shinjiro Koizumi in a closely contested runoff vote, succeeding Prime Minister Shigeru Ishiba as party leader….reports Asian Lite News Former Internal Affairs Minister Sanae Takaichi has won
Go toTop

Don't Miss

Tax hikes spark massive outrage in Pakistan

The budget sets a challenging tax revenue target of 13

Over 1000 Afghan Nationals Held in Pak Crackdown on Immigrants

The caretaker Home Minister retired Brigadier Haris Nawaz, disclosed this