ISLAMABAD: International Monetary Fund (IMF) Board has approved revival of Pakistan’s EFF programme. In his latest Tweet, Finance Minister Miftah Ismail said that following revival of programme, Pakistan should now be getting 7th and 8th tranche of $ 1.17 billion.

He said, “I want to thank Prime Minister Shehbaz Sharif for taking so many tough decisions and saving Pakistan from default. I congratulate nation.” In July this year, Pakistan had reached a staff-level agreement with International Monetary Fund, a milestone that would pave way for release of an additional $ 1.2 billion in loans and unlock more funding.

He alleged that Pakistan Tehreek-e-Insaf for hatching conspiracies to sabotage much-needed release of $ 1.17 billion tranche under International Monetary Fund programme.

It was a “heinous and shameful act” against national interests and an attempt to push country into economic default, he said.

Referring to recent audio leaks of former finance minister Shaukat Tarin, Miftah said Tarin was misleading finance ministers of Punjab and Khyber Pakhtunkhwa about IMF programme. Miftah said it was PTI government that had initially finalised programme with IMF on tough terms and condition and later deviated from it by providing unjustified subsidy on petroleum and electricity prices to pile up “historic deficit”. PTI rulers also took record loans of over Rs 20,000 billion, which was about 80 percent of total loans taken all previous regime, he added. He alleged that Imran Khan led government led had committed “historic corruption”. Every transfer or posting was made against “diamond rings”, he added. He said country was now facing worst floods of its recent history. All resources would be utilised for relief and rehabilitation of affected people.

Published in The Daily National Courier, August, 30 2022

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