ISLAMABAD (Pakistan): Former Pakistani Prime Minister Imran Khan characterized the International Monetary Fund (IMF) deal as “cancer treatment with disprin (aspirin),” Dawn reported.
He said the deal with the IMF will only provide temporary relief as it will ultimately lead the country into a major disaster as the borrowing burden will continue to increase.
Imran Khan made the remarks in a televised address on Wednesday from his Zaman Park residence.
Criticizing the country’s government’s economic policies, Pakistan President Tehreek-e-Insaf (PTI) said, “Don’t destroy the country just to oust Imran Khan from the political arena,” according to Dawn.
Khan said Pakistan is descending into a financial crisis and more chaos like Sri Lanka, according to the news.
Citing the latest report by rating agency Fitch, the former Pakistani prime minister warned that the situation would deteriorate.
According to the news, Fitch Ratings downgraded Pakistan’s long-term foreign currency issuer default rating to “CCC-“, implying that the country has already caught up with Sri Lanka.
Imran Khan said the Pakistan Democracy Movement (PDM) government attempted to shift the burden of carrying more inflation onto Pakistani President Arif Alvi’s shoulders by demanding an ordinance to approve the mini-budget, as per news reports. He said the mini-budget will bring another wave of inflation and the working class and housewives will feel the effect while purchasing power will see a decline.
“Even the PDM government is reluctant to get the mini-budget approved by its own members in parliament,” Dawn said quoting Imran Khan.
He accused the government led by Pakistan Prime Minister Shehbaz Sharif of plunging Pakistan into a plethora of crises and stressed that the nation was now left with only two choices, either sit idle and wait for impending disaster or become part of the PTI protest to ensure that rule The law is upheld and general elections in Punjab and Khyber Pakhtunkhwa are held within 90 days, as per news report.
Imran Khan said he could see Pakistan heading towards default and added that the expected IMF deal will only provide temporary relief as it will ultimately lead Pakistan to major disaster, Dawn reported.
The former Pakistani prime minister said the only way to get the country out of the quagmire was to hold general elections and let the popularly mandated government make “difficult decisions”. He stressed that the “corrupt and incompetent” rulers have no solutions for the welfare of the people and were focusing on closing their corruption cases. “Only a government, supported by the Pakistani people, can introduce structural reforms to remove the cancer and put the country on the path to recovery,” Dawn said quoting Imran Khan.
Pakistan and the International Monetary Fund failed to reach a staff-level deal to unblock the $1.1 billion loan tranche after 10 days of “tough” talks, The News International reported. The negotiations that took place between the IMF and Pakistan from 31 January to 9 February ended in Islamabad. The IMF mission had arrived in Islamabad to hold talks with the Pakistani authorities.
He said the deal with the IMF will only provide temporary relief as it will ultimately lead the country into a major disaster as the borrowing burden will continue to increase.
Imran Khan made the remarks in a televised address on Wednesday from his Zaman Park residence.
Criticizing the country’s government’s economic policies, Pakistan President Tehreek-e-Insaf (PTI) said, “Don’t destroy the country just to oust Imran Khan from the political arena,” according to Dawn.
Khan said Pakistan is descending into a financial crisis and more chaos like Sri Lanka, according to the news.
Citing the latest report by rating agency Fitch, the former Pakistani prime minister warned that the situation would deteriorate.
According to the news, Fitch Ratings downgraded Pakistan’s long-term foreign currency issuer default rating to “CCC-“, implying that the country has already caught up with Sri Lanka.
Imran Khan said the Pakistan Democracy Movement (PDM) government attempted to shift the burden of carrying more inflation onto Pakistani President Arif Alvi’s shoulders by demanding an ordinance to approve the mini-budget, as per news reports. He said the mini-budget will bring another wave of inflation and the working class and housewives will feel the effect while purchasing power will see a decline.
“Even the PDM government is reluctant to get the mini-budget approved by its own members in parliament,” Dawn said quoting Imran Khan.
He accused the government led by Pakistan Prime Minister Shehbaz Sharif of plunging Pakistan into a plethora of crises and stressed that the nation was now left with only two choices, either sit idle and wait for impending disaster or become part of the PTI protest to ensure that rule The law is upheld and general elections in Punjab and Khyber Pakhtunkhwa are held within 90 days, as per news report.
Imran Khan said he could see Pakistan heading towards default and added that the expected IMF deal will only provide temporary relief as it will ultimately lead Pakistan to major disaster, Dawn reported.
The former Pakistani prime minister said the only way to get the country out of the quagmire was to hold general elections and let the popularly mandated government make “difficult decisions”. He stressed that the “corrupt and incompetent” rulers have no solutions for the welfare of the people and were focusing on closing their corruption cases. “Only a government, supported by the Pakistani people, can introduce structural reforms to remove the cancer and put the country on the path to recovery,” Dawn said quoting Imran Khan.
Pakistan and the International Monetary Fund failed to reach a staff-level deal to unblock the $1.1 billion loan tranche after 10 days of “tough” talks, The News International reported. The negotiations that took place between the IMF and Pakistan from 31 January to 9 February ended in Islamabad. The IMF mission had arrived in Islamabad to hold talks with the Pakistani authorities.
