Have to live without IMF, Says Dar after imposing plethora of taxes on nation
Finance Minister said it is a surprise to world that Pakistan has not and will not become Sri Lanka, All payments are timely, Pakistan will not default
Federal Finance Minister Ishaq Dar has said that we have to learn to live without IMF. Economists say that if we had to live without IMF, we would have to accept their demands on people. Why was the tax burden of 170 billion rupees imposed? What was need to make petrol and diesel expensive? What was need to increase prices of electricity? Ishaq Dar answer these questions.
These views were expressed by Finance Minister Ishaq Dar while addressing a function organized by Islamabad Industrial Association in Islamabad yesterday.
Ishaq Dar said that it is a surprise for the world that Pakistan has not made Sri Lanka and will not make it, Pakistan will not default, all payments are timely, Pakistan will not default.
The Federal Finance Minister said that all the pre-conditions of the IMF have been fulfilled, we have to learn to live without the IMF, during the first 8 months of this financial year, Pakistan’s external debt has decreased by 4 billion dollars.
He again lit the lamp of hope and said that the staff level agreement on the IMF program will be done soon, the board meeting will also be held.
He said that Pakistan is not made to default, the finance minister asked the business community for budget suggestions.
Addressing the event, he said that Pakistan was a macroeconomically unstable country in 2013. In the last 6 to 7 months there were talks of default, during the year 2013 to 2017, Pakistan became the 24th largest economy in the world.
Ishaq Dar said that Pakistan was going to join the list of G20 countries. He said that in the last five years, Pakistan has become the 47th economy in the world. However, we have to leave these things behind and move forward. The finance minister said that the developing Pakistan was not noticed by anyone, Allah Almighty has to protect this country himself, threats of sanctions were given to prevent explosions in comparison with India. If Pakistan was not a nuclear power, there would have been more problems. Nawaz Sharif’s decision will be written in golden letters in history.
He said that if everyone works together, then Pakistan can be fine, if they work together, then Pakistan can take off. 33 thousand LCs were pending when he came to the ministry, stopped the decline in Pakistan, now it has to be completely reversed.
He said that from 2013 to 2018, the economy increased by 126 billion dollars, the next 5 years only increased by 26 billion dollars, efforts are being made to bring the foreign exchange to 12 to 12 billion dollars by June 30. Pakistan will develop, deficit will be controlled.
