Efforts are Being Made to Reach a $3 Billion IMF Loan to Pakistan in the IMF Executive Board Tomorrow

Efforts are Being Made to Reach a $3 Billion IMF Loan to Pakistan in the IMF Executive Board Tomorrow

Prime Minister Shehbaz Sharif expressed his concerns regarding the loan agreement with the IMF, emphasizing that it is not a matter of pride but rather a cause for concern. He questioned the duration of reliance on the IMF Loan to Pakistan and stressed the need to break free from its constraints. In his address, the Prime Minister emphasized the importance of utilizing collective skills to achieve this goal.

Emphasizing breaking IMF Loan to Pakistan Chains

Prime Minister Shehbaz Sharif stated that tomorrow the IMF Executive Board will convene to discuss the loan agreement with Pakistan. He expressed his desire to break free from the constraints imposed by the IMF, emphasizing the need to utilize our collective abilities to break these chains.

Address to National Empowerment Cermeny 2023

During a national empowerment ceremony, the Prime Minister highlighted the significant role of women in our society, considering they make up more than half of our population. He emphasized the importance of providing education to women, enabling them to progress and work alongside men. However, despite the passage of 75 years, women’s rights in our country have not been adequately recognized. In contrast, women in Western countries have actively contributed to their countries’ development.

Explained the Current Loans on Way to Pakistan

The Prime Minister acknowledged that Pakistan still has a long way to go in this aspect. He compared the current efforts, such as the 5 billion program, to adding salt to flour. He cited the example of Punjab, where programs for girls have been initiated under the leadership of Khadim. Additionally, Saudi Arabia has deposited 2 billion dollars in the national treasury of the Pakistan State Bank, consistently providing support in times of need. However, the Prime Minister raised concerns about the sustainability of taking loans and urged the country not to rely solely on external funding. He mentioned a neighboring country in the east as an example of a nation that should not be emulated.

Disparity Between Pakistan and Neighboring Countries

Reflecting on the past, the Prime Minister acknowledged the disparity between Pakistan and this neighboring country. While they excelled in steel production, Pakistan led in textiles. However, the current situation is vastly different, and the Prime Minister expressed frustration and a sense of urgency to address this imbalance. He emphasized the need for the nation to take responsibility and learn from previous experiences, moving forward together. The Prime Minister praised the significant contribution of rural women who work alongside men in the fields, highlighting their crucial role in national development.

IMF Board Agreement July 2023

The Prime Minister recognized that he has not encountered such a formidable economic challenge throughout his political career, with issues like floods, global recession, global inflation, and the Russia-Ukraine war impacting the country. As the IMF board is set to convene the next day to discuss the loan agreement, efforts are being made to secure an agreement worth US$3 Billion. The Prime Minister emphasized that this situation is not a matter of pride but rather a matter of concern, urging the country to find sustainable solutions.

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