Is the IMF a friend or foe of Pakistan?

CHITRAL: Pakistan has been forever looking towards the IMF like the calf looks unto it’s mother to suckle milk for survival- For meeting it’s expenditures which have always exceeded the income. The result is that the pile of loans on the country has grown exponentially and now we are virtually in a bankrupt state even financially- not to talk of being morally bankrupt.

Though the IMF has always been generous in lending money to Pakistan, it has essentially done so with ulterior motives per se rather than the intention to help the country stand on own feet. Whenever the IMF has graciously lent money, it has imposed certain associated conditions e.g to raise the price of fuel, electricity, increase taxes on the public, etc which have put a direct pressure on the poor man.

The IMF has never imposed any condition to reduce the overhead expenditures on the armed forces, the bureaucracy, judiciary and other government funded institutions. The result is that the overhead expenditures of these institutions have grown radically without bothering about the financial burden it puts on the poor man. The offices of bureaucrats whether civil or military are more lavish than those of rich countries which are giving us loans. The number of imported luxury vehicles these officials use at public expense can put to shame the extravagance of Arab sheikhs.

The IMF has never demanded from the government to put an end to this shameful squander and to ‘spread the feet according the size of the bed sheet’.

The sinisterism in the motive of the IMF is that it purposely does not dictate the government to reduce its expenditures and only put pressure on the public, so that the country is in a perpetual state of instability and the hatred between those in power in any form including uniform, who are enjoying the undue frills and the public continues to grow. .. CN report 07 Apr 2024

3 thoughts on “Is the IMF a friend or foe of Pakistan?

  1. A very timely reminder indeed. But it will fall on deaf ears because in Pakistan democracy means government of the elite, by the elite and for the elite. Apart from the tax exemptions and subsidies for the elite mention should also be made of the rent free supply of fuel, electricity and gas. Even the verandas of the elites have air conditioners and heaters functioning throughout the day because they do not have to pay the cost. It is salt on injury for the people who are paying through their nose without availing these facilities on full time basis. There are report’s that IMF wants these privileges to end. Hopefully it is not a media stunt and IMF is serious to do the job this time over and get some praise from the people at least on this score.

  2. The IMF only lends money on demand and wants it to be paid back as per agreement. It is upto our government to use the money wisely. We cannot blame the IMF for our own failure.

  3. @ Akhtar Ali. If the IMF is a neutral loan giving agency then it should not dictate the government what to do. If it has to dictate then it should have correct priorities i.e first reducing ridiculously high government expenditures rather than having sinister motives of pitting the poor people against the government and thus creating instability in the country.

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