IMF needs to review it’s modus operandi for Pakistan
CHITRAL: The International Monetary Fund (IMF), the World Bank and other loan giving agencies are a big relief for governments which live beyond means and end up in financial trouble. The lay man curses the IMF for imposing their conditions on governments asking for loan from them. If thought over coolly, it is no fault of the IMF to ask the government to increase it’s income to pay back their loans in time. The problem however is that the pressure of the IMF always affects the poor man. Increasing prices of basic needs and putting the burden on the poorest is the easiest thing and that is what it has been doing so far.
If instead of dictating the government to raise the prices of basic essential commodities which the poor use to survive, the IMF would do well to dissect intricately, the problem that afflicts us at the top. The overhead expenses of the government, whether it be of the civil beaurocracy, or the millitary beaurocracy or judicial beaurocracy need to be addressed sternly. For an impartial onlooker, the money wasted on the perks and privileges of those in the government, (both civil and millitary) are not at all compatible with the financial capability of the country, thus taking loan upon loan continues and the country goes round and round in a circle of no joy accruing exponential debts with each passing month.
The non operational overhead expenses of the millitary, the civil beaurocracy, the judiciary, the federal and provincial government paraphernalia, all need to be thoroughly probed and managed down to realistic levels by the IMF. Sorry to ask the IMF for this .. but the government neither has the will nor the guts to address the real issue. .. CN report, 25 Oct 2021