IMF team to travel to Pakistan in 2-3 days to finalise ninth review: PM Shehbaz

[FOOLS_NIGHTMARE]

Prime Minister Shehbaz Sharif said on Friday that a delegation from the International Monetary Fund (IMF) would travel to Pakistan in two to three days to finalise the ninth review of Pakistan’s $7bn Extended Fund Facility (EFF).

He made the remarks while addressing the inaugural ceremony of Hazara Electric Supply Company (HESC) in Islamabad.

Pakistan entered a $6 billion IMF programme in 2019, which was increased to $7bn last year. The programme’s ninth review, which would release $1.18bn, is currently pending. It had earlier been put off for two months due to the PML-N-led government’s unwillingness to accept certain conditions placed before it by the Fund, and the disagreements have yet to be resolved.

During his address, the premier said he had spoken with International Monetary Fund (IMF) Managing Director Kristalina Georgieva last night (Thursday) regarding Pakistan’s agreements with the international money lender.

He highlighted that he assured Georgieva the current government wished to fulfil the terms of the agreement the previous government had “broken and shattered”.

He said that Pakistan would try its best to fulfil the terms of the IMF agreement but also highlighted the destruction brought by last year’s catastrophic floods.

Shehbaz said he told Georgieva that the “economic situation is in front of you, I can’t burden the common man any further […] She assured me that she understands my difficulty”.

The premier reiterated that he told the IMF official that Pakistan would try and complete the terms of the agreement.

The premier further said that he asked Georgieva to dispatch a delegation to Pakistan in order to complete the ninth review of the IMF programme. “She told me that an IMF team will arrive in Pakistan in two to three days”.

‘Had not anticipated extent of Imran’s destruction’​

that he had not anticipated the extent to which PTI Chairman Imran Khan had “destroyed everything”, referring to the country’s worsening economic situation.

Addressing the inaugural ceremony of Hazara Electric Supply Company (HESC) in Islamabad, Shehbaz said: “We paid a heavy price when we took over the government. We knew the economic situation was bad but I had not anticipated the extent to which that Imran Khan has completely destroyed everything.”

He lambasted Imran for “taking out the funeral” of the China-Pakistan Economic Corridor and for making “baseless” corruption allegations against Chinese companies.

He also criticised his predecessor for sitting idle instead of buying gas when it was available in the international market at cheaper rates.

“He (Imran) had no interest in the Pakistani people. If he did, he would have set aside political vendettas, verbal abuses […] and would have initiated projects for the people.”

He further said that Imran did not initiate a single project during his tenure or lay down “a single brick”.

He further termed Imran to be the “biggest hypocrite and most thankless person”, referring to the PTI leader’s statements against the country’s top institutions.

The prime minister said that it was Imran’s “misfortune” that he proved to be a failure, despite the fact that the Pakistan Army exhausted all its “powers and capabilities” in an effort to ensure that the country moves forward and develops.

HESC​

Talking about the HESC, the premier said that the demand of the people of Hazara for a better electricity supply system, owned and supervised by the people, had been fulfilled.

The premier assured the attendees that the government would complete the remaining necessary arrangements for the company as soon as possible.

He thanked Minister of Power Khurram Dastgir Khan and his team for their efforts in this regard.

PM Shehbaz also announced that he had directed the authorities concerned to complete Sui Southern Gas Company (SSGC) projects that were left incomplete despite the availability of funds.

IMF team to travel to Pakistan in 2-3 days to finalise ninth review: PM Shehbaz

Lashes out at ex-premier Imran Khan for country's "destruction".

www.dawn.com

 

[Clutch]

Beggars can't be Choosers

 

[HAIDER]

Dar befitting response to IMF ..... lollllllll

 

[HAIDER]

On a serious note, this is the 9th review, and the deadline for 10 already pass. So, it means first we need to meet the requirement of 9 then we go to 10, and then the 11th review ..... more inflation/ price hike.

 

[El Sidd]

PM Shehbaz should do the honorable thing and bring out the agreement with IMF to the parliament.

The previous regime had the agreement termed national security issue and refused any debate and deliberations on the floor of the house.

It would be dishonest and dishonourable to continue with measures undertaken by the previous regime who now have admitted to be a puppet foreign funded regime.

 

[Path-Finder]

PM Shehbaz should do the honorable thing and bring out the agreement with IMF to the parliament.

The previous regime had the agreement termed national security issue and refused any debate and deliberations on the floor of the house.

It would be dishonest and dishonourable to continue with measures undertaken by the previous regime who now have admitted to be a puppet foreign funded regime.

funny, previous gov was making Pakistan a industrial nation with an economic growth of %5 in just 3.5 years of rule. Independent industrialist like loom owners and your general Small and Medium business owners are holding press conferences against THIS GORMINT. NOT LAST GORMINT. There is the current gormints economic review validating this too but you are a kazzab so it doesn't matter.

Lets see all the IMF data I want to see the IMF date from 2001 to present day. especially Musharraf ppp and your favorite noon-leak.

So you continue with the lies and propaganda because only a few people will buy it. actually even the haad haram PDM supporters cant defend this haramzadgi. that's why the gormint+GHQ is now a p0rn directors studios.

 

[Crimson Blue]

funny, previous gov was making Pakistan a industrial nation with an economic growth of %5 in just 3.5 years of rule

If you reply to @El Sidd , you are defeating yourself. His only purpose on this forum is to seek attention, no matter what it takes.

 

[Path-Finder]

If you reply to @El Sidd , you are defeating yourself. His only purpose on this forum is to seek attention, no matter what it takes.

well sometimes you have to put the record straight. IK's 3.5 years of gov and PDM's combined rule with GHQ is glossed over so casually. Not on my watch

 

[El Sidd]

funny, previous gov was making Pakistan a industrial nation with an economic growth of %5 in just 3.5 years of rule. Independent industrialist like loom owners and your general Small and Medium business owners are holding press conferences against THIS GORMINT. NOT LAST GORMINT. There is the current gormints economic review validating this too but you are a kazzab so it doesn't matter.

Lets see all the IMF data I want to see the IMF date from 2001 to present day. especially Musharraf ppp and your favorite noon-leak.

So you continue with the lies and propaganda because only a few people will buy it. actually even the haad haram PDM supporters cant defend this haramzadgi. that's why the gormint+GHQ is now a p0rn directors studios.

The precious regime decimated the fundamental pillars of any documented economy i.e. undocumented economy. That spike of 5 percent is not something to cheer about.

The previous government made a mandate of promise and sloganeered the whole election campaign with anti IMF rhetoric to only sign shady agreements under guise of national security.

As far as PMLN is considered, you are once while voter of the party. Now you are disgruntled with PTI as well.

 

[epebble]

PM Shehbaz should do the honorable thing and bring out the agreement with IMF to the parliament.

The previous regime had the agreement termed national security issue and refused any debate and deliberations on the floor of the house.

It would be dishonest and dishonourable to continue with measures undertaken by the previous regime who now have admitted to be a puppet foreign funded regime.

I am guessing the 'national security' codeword is that the military takes bulk of the loan proceeds and IMF is not OK with it and is putting its foot down. So, the deadlock can't end unless the books are in the open to IMF satisfaction and all the funds go to development and not military. But obviously, military won't agree to that.

 

[El Sidd]

I am guessing the 'national security' codeword is that the military takes bulk of the loan proceeds and IMF is not OK with it and is putting its foot down. So, the deadlock can't end unless the books are in the open to IMF satisfaction and all the funds go to development and not military. But obviously, military won't agree to that.

The rumor mill is where all populist go to fetch their water.

 

[Path-Finder]

The precious regime decimated the fundamental pillars of any documented economy i.e. undocumented economy. That spike of 5 percent is not something to cheer about.

The previous government made a mandate of promise and sloganeered the whole election campaign with anti IMF rhetoric to only sign shady agreements under guise of national security.

As far as PMLN is considered, you are once while voter of the party. Now you are disgruntled with PTI as well.

you are a munafiq. for the first time economy was to be documented. are you telling everyone on this forum that dar-nomics was running a documented economy? The same dar that was caught fudging the numbers in the 90's and left Pakistan at the verge of default in 2018/19! With the same situation as today. NO FOREX LEFT!!

IF the previous gov went to IMF despite election promise was BECAUSE of the disease called dar which is back to default Pakistan as it was prevented from doing so last time.

Why is it that Pakistan likelihood of default is above 95% NOW. But only 5% in previous gov?

https://twitter.com/x/status/1603785207232053249

you are going to act like an ostrich with head in sand over dar vs miftah!!

 

[epebble]

The rumor mill is where all populist go to fetch their water.

Something is rotten in the state of Denmark, but I have been unable to guess what it could be. IMF wouldn't be this hardnosed unless there are intractable problems.

IMF chief declines to travel to Geneva on PM's invitation, ready to attend moot virtually​

IMF chief declines to travel to Geneva on PM's invitation, ready to attend moot virtually

ISLAMABAD: On Prime Minister Shehbaz Sharif's invitation to attend Climate Resilient Pakistan Conference in Geneva, International Monetary Fund Managing Director Kristalina Georgieva excused...

www.thenews.com.pk

 

[El Sidd]

IF the previous gov went to IMF despite election promise was BECAUSE of the disease called dar which is back to default Pakistan as it was prevented from doing so last time.

Why is it that Pakistan likelihood of default is above 95% NOW. But only 5% in previous gov?

Why are you not in favor for having those terms and conditions as public access?

Something is rotten in the state of Denmark, but I have been unable to guess what it could be. IMF wouldn't be this hardnosed unless there are intractable problems.

IMF chief declines to travel to Geneva on PM's invitation, ready to attend moot virtually​

IMF chief declines to travel to Geneva on PM's invitation, ready to attend moot virtually

ISLAMABAD: On Prime Minister Shehbaz Sharif's invitation to attend Climate Resilient Pakistan Conference in Geneva, International Monetary Fund Managing Director Kristalina Georgieva excused...

www.thenews.com.pk

Maybe IMF is also cutting back on carbon emissions caused by air travel

 

[blain2]

We have to be honest with ourselves. We are entering the 24th loan associated with an IMF program (12+) in our 70+ year history? We are an extreme basket case in the world as hardly another country can beat this trend. Yes, IMF will ask for tough measures because that is what is needed to fix this chronically ailing economy.

IMF has helped other nations overcome their challenges yet our conspiracy minded, clogged-with-dung minds cannot get over the fact that a poison pill is needed to deliver the chemotherapy to the trash we call Pakistan's economy for it to be rebooted. PTI government also did no wonders but one thing consistently done by each government is not meeting the targets set by IMF. They have all failed to complete the IMF programs because return to "gaddi" was more important than fixing Pakistan's economy. The downside is that more loans are needed because each infusion is more expensive to reverse the rot.

All the champions of Pakistan economy - every single one of them writing op-eds in Dawn, talking nonsense on talk shows including Miftah Ismail, Shaukat Tareen, Dawood Razzak, Abdul Hafeez Sheikh and Dar are all failures because their political bosses won't let them swallow the bitter pill due to its political costs but that is a price that someone will have to pay if Pakistan's economy is to be saved and put on the path of recovery.

This economy is not getting fixed if IK gets back in the office or these PDM idiots run it as they are now.

We don't export enough and we have no self-discipline to control our spendings. The only way we will get this right is if someone holds a goddamned "dunda" over our heads and forces hard decisions like the ones that Greeks have had to endure. This is why the "technocrat" talk is being heard in the capital. Even that is a bandaid solution because technocrats buy us time..they don't fix the fundamentals or even if they try to fix the fundamentals, the next idiot who rides in on the wave of "democracy" resets everything.