ISLAMABAD: Finance Ministry said it was very much interested in negotiating IMF deal by being flexible on budget country recently presented.

Ministry’s response comes after International Monetary Fund expressed its reservations about budget. “Document is not part of pending ninth review that has been delayed since November last year but is keenly engaged with IMF to reach an amicable solution,” said Ministry.  In two-page rebuttal of IMF’s Resident Representative for Pakistan Esther Perez Ruiz’s statement on budget, Ministry said it was clarifying Pakistan’s position. It said ninth review was conducted in early February 2023 and government had completed “All technical issues at fast pace”. Only outstanding issue, it said, was external financing and it was “Amicably resolved” after Prime Minister Shehbaz Sharif spoke to IMF Managing Director.

Pakistan Peoples’ Party questioned its coalition partner PML-N’s intentions behind presenting an “Unrealistic” and “Election-oriented budget”.

PPP’s Nafisa Shah during budget debate in National Assembly’s Standing Committee on Finance and Revenue said PML-N-led government asked lawmakers to take “Tough decisions” in budget but no such move was taken. “We are faced with an economic storm,” she added.

Replying to PPP claims, Finance Minister Ishaq Dar said had there been no elections, government would have presented same budget, adding that agreement with IMF took longer than expected. “Government will easily gain 3.5 percent GDP growth in next fiscal year,” he added.

Published in The Daily National Courier, June, 17 2023

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