Pakistan has to fulfill about a dozen conditions in six months to remain in the IMF’s six billion US dollar loan program.
Pakistan Prime Minister Imran Khan
The difficulties of Prime Minister Imran Khan, who is enjoying the power of power by implicating Pakistan in the debt trap, are going to increase once again. In fact, the neighboring country has to fulfill about a dozen conditions in six months to remain in the IMF’s six billion US dollar loan program. But even after all this, the economic stability of the pauper Pakistan remains on the aid of US $ 11 billion from China.
The Washington-based international lender on Thursday released its staff-level report of US $ 6 billion, the Express Tribune reported. This report said that from October till now, the Government of Pakistan is in the process of increasing the prices of electricity by Rs 5.65 per unit or 36 percent. According to the debt management plan, the increase in electricity prices will put an additional burden of Rs 884 billion on the Pakistani population by June 2023. The report said that the cabinet had approved it last month.
Problems for Pakistani people will increase, government will impose new tax
According to the news, the Imran government will also impose a new tax of 1.1 per cent or 600 billion rupees on Awam, following the conditions of IMF in June. These conditions are part of 11 actions that the Imran government has to fulfill before September this year. They are different from the five earlier actions that the government had already completed to convince the IMF board.
Pakistani economy needs distress for distressed Pakistani economy
Imran Khan’s government is implementing these actions to remain in the IMF’s six billion US dollar program. But in the midst of all this, it has also been said in the report that the decaying economy of Pakistan still needs constant loans from China to a large extent. According to the IMF, the country’s economy needs US $ 27 billion in the next 12 months. Pakistan will have to use this amount to fill its foreign debt and import goods.
Pakistan is running for debt in these places too
Pakistan has told the IMF that it needs $ 10.8 billion from China, $ 2 billion from the UAE, $ 2.8 billion from the World Bank, $ 1.8 billion from the G20, $ 1.1 billion from the Asian Development Bank to meet its financial needs. And one billion dollars of help will be needed from the Islamic Development Bank.
Also read: US Navy warships entered into Indian waters without Indian permission; Navigation expedition started near Lakshadweep
.