IMF bailout plan not in national interests: Dar

[Naveed Yaseen]

ISLAMABAD: PML-N Senator Ishaq Dar on Wednesday opposed the option of the IMF bailout plan and described it as against national interests.

Speaking in the Upper House of Parliament, he said the IMF would be ready to assist Pakistan as it would help fulfill some of its agenda instead of steering the country out of energy crisis. He said withdrawal of subsidies and imposition of new taxes were some of the minus points of IMF plan which directly affect people.

He said certain people are wrongly projecting the benefits of the IMF plan, adding, it would have negative impact on the country. He stressed for proper implementation of any strategy devised by the government, adding that, the first step the government should take is to decrease inflation and reduce non-development expenditures which have mounted from Rs 425 billion to Rs 1,450 billion over the past years. He called for taking steps to stop sliding of rupee. He said according to the IMF, the devaluation of rupee would enhance country’s exports but it proved wrong in case of Pakistan.

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