China prevents Pakistan's default as IMF deal stalls: PM

MG News | May 27, 2023 at 11:33 PM GMT+05:00

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May 27, 2023 (MLN): Since no IMF deal is being signed with the International Monetary Fund (IMF), the longstanding friend China will prevent Pakistan from Default, Prime Minister Shehbaz Sharif said while speaking to the business community on Friday.

The reason behind the stalled IMF agreement is the difficult conditions put forth by the fund continuously which cannot be further imposed on the already burdened people.

However, the government has tried its best to fulfill most of the toughest conditions which shows the government’s commitment to completing the program.

Being a good friend, China has already shown its support by rolling over the commercial debt, he added.

In addition, there are other friendly nations too who want to see Pakistan prosper and developed.

The violation of IMF’s conditions by the previous government is the sole reason that push the whole nation to the bottomless pit, he blamed.

He also mentioned that the upcoming budget will not burden businessmen with taxes.

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