Mon. Sep 23rd, 2019

IMF bailout package: Opposition warns tsunami of inflation to storm

Islamabad: The government of Pakistan Tehreek-e-Insaf (PTI) on Monday came under fire by major opposition parties for securing US$ 6 billion bailout package from International Monetary Fund (IMF).

Maryam Nawaz, a vice president of the PML-N, termed the agreement a “complete sell-out of [the country’s] sovereignty”.

“IMF or no IMF – the incompetent rulers were not sure. Finally when it does come, it’s a complete sell out of our sovereignty and rightly REJECTED by stock market,” she tweeted adding that after just 9 months, country is on the brink of economic disaster.

The Pakistan Stock Exchange (PSX) witnessed a loss of more than 2.7 per cent with the benchmark KSE-100 Shares Index shedding 937 points during intra-day trading. Analysts have held the IMF’s tough conditions responsible for bearish rule at the bourse

PML-N’s secretary General Ahsan Iqbal strongly criticized the government’s anti-people policy and warned on electronic media to give a joint reaction during the National Assembly’s budget session. He alleged PTI government for leaving the people at mercy of IMF. “Naya Pakistan and tabdeeli (change) are on their way! Watch the highlights of the ’92 World Cup’s final and enjoy he added.”

Read:https://newztodays.com/the-prices-in-pti-govt-go-up-to-315-per-cent/

While criticizing the agreement, PPP Senator Sherry Rehman raised questions on terms and conditions of deal and demanded the government to present details of deals before the Parliament.

“Under what terms and conditions is the government pledging Pakistan and its institutions as a collateral to the IMF?” she asked. She predicted that a “tsunami of inflation” was about to come. NT

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