Members, not beggars: Pakistan to survive with or without IMF

May 29, 2023 (MLN): Pakistan is not a beggar but a member country of the International Monetary Fund (IMF) and the fund is not doing any “Favor” if it approves the bailout package while completing ninth review on time, the federal minister for Finance and Revenue Ishaq Dar said during an interview to a local news channel on Sunday.

“Though IMF is the lender of the last resort if the 9th review will not be completed in time even, Pakistan will not default as per ‘my experience’,” he added.

With regards to the budget, Ishaq Dar said that the government is all set to present people friendly budget as the citizens have already felt the pinch of IMF conditionalities.

In response to a question, he said that the IMF should release the funds before the budget was presented, which is due in June.

“However, we will not do the 9th and 10 reviews together as this will be unfair.”

Pertaining to the dollar’s bullish run, he blamed the internal and external elements for artificially increasing the price of the dollar against PKR.

According to Ishaq Dar, “The true value of the dollar is between 240 to 249.”

He also said that due to the autonomous status of the State Bank of Pakistan (SBP), the government cannot borrow from its own bank.

Copyright Mettis Link News