Government should renegotiate deal with IMF: Bilawal Bhutto
Recently the Executive Board of the International Monetary Fund approved a three-year, $ 6 billion loan package for Pakistan in exchange for stringent measures, controlling rising debt and stopping the balance of payments crises. Bilawal Bhutto has insisted government nigotiate the deal.
Board approval will allow immediate disbursement of around $1 billion, with the remainder to be phased in over the period of the program, subject to quarterly review, the IMF said, highlighting the need for Pakistan to agree to tough conditions for the coming three years.
Many political leaders have opposed the government’s agreement, of which Bilawal Bhutto has openly expressed his concern.
In his message on social networking website Twitter, Chairman Pakistan People’s Party Bilawal Bhutto Zardari said that the government should renegotiate a deal with the International Monetary Fund (IMF).
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Chairman Pakistan People’s Party Bilawal Bhutto Zardari said that the Pakistan People’s Party has for some time taken the position that the Federal Government should renegotiate its deal with the IMF.
He said at present, Pakistan is facing a global outbreak like the Coronavirus. Given this situation, the government should renegotiate with the IMF under new terms.
Bilawal Bhutto Zardari said that Coronavirus is a global outbreak that affected the whole world and had a profound impact on the global economy. The government will have to re-negotiate with the global organization at all costs.
It should be remembered that the International Monetary Fund (IMF) team held a policy dialogue with Pakistan during which the international delegation appeared to be inadequate.
The Federal Board of Revenue (FBR) did not bring in a substantial increase in tax receipts, which the IMF delegation proposes to increase non-tax revenue.
IMF delegation members did not look happy last month when FBR’s request to reduce the tax revenue target emerged.
The government should take all political parties together and review the decision for the betterment of the country.