Islamabad, Sep 13 (PTI) Prime Minister Shehbaz Sharif on Friday credited a group of “friendly countries”, including China, for the USD million International Monetary Fund loan that the global lender is likely to approve later this month.
Talking to young parliamentarians belonging to his Pakistan Muslim League-Nawaz (PML-N) party in Islamabad, Sharif also appreciated the efforts made by Army chief Asim Munir and deputy prime minister Ishaq Dar in the process to secure the loan, saying that the IMF’s board meeting is scheduled to be held on Sep 25 to approve the loan.
He gave credit to Saudi Arabia, the UAE, and China for their pivotal roles in securing the IMF programme. “Had it not been for the contributions of these friendly countries, it would have been impossible to secure the IMF deal,” the prime minister said.
At the same time, Sharif showed his disdain for the loan, wishing that it should be the last programme with the IMF.
“We cannot keep relying on loans. Those who abandoned this path have reached great heights. God willing, this will be our last IMF programme,” he said.
The prime minister also pointed out that until all stakeholders pay tax, the country cannot move forward. “We are working day and night to end tax evasion by the elite. Without achieving these targets, we won’t be able to free ourselves from IMF loans,” he warned.
He urged all sectors to pay their fair share of taxes. “It is not right to overburden any one sector with taxes. Traders are a hardworking community, but they need to do more in terms of tax contribution,” he said.
Sharif noted that seeking loans and rolling over old debt cannot guarantee a respectable life. Hence, collective efforts and hard work are the only way forward to attain a prestigious position among the comity of nations.
The prime minister said the policy rate and inflation have decreased, while remittances from Pakistani expatriates and exports of agricultural goods are on the rise. He said all these positive indicators show that the economy is heading in the right direction.
Sharif said collective effort by the entire nation, especially the youth, is vital to make Pakistan self-reliant and debt-free.
He announced that if the current trend of declining inflation continues, the government will ease the burden on the salaried class. PTI SH SCY SCY
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