KP Govt should assist centre for a successful IMF deal

KP Govt should assist centre for a successful IMF deal

Karachi, MAY 27: /DNA/ – Chairman of National Business Group Pakistan, President Pakistan Businessmen and Intellectuals Forum, and All Karachi Industrial Alliance, and former provincial minister Mian Zahid Hussain said on Monday that the government of Khyber Pakhtunkhwa has once again started efforts to spoil the relationship between the IMF and Pakistan, which will not succeed. 

He said some elements have tried their best to bankrupt Pakistan several times before, but they have failed and will fail again.

Mian Zahid Hussain said rulers should take strict action because the country’s interests cannot be sacrificed for someone’s political wishes. 

Talking to the business community, the veteran business leader said that the government had improved the economic situation with great difficulty, for which the people had to make huge sacrifices. Still, some unscrupulous elements want to frustrate these efforts for cheap fame. 

He added that conspiracies are being hatched in this regard; therefore, authorities should remain vigilant and cautious. 

Chief Minister Khyber Pakhtunkhwa Ali Amin Gandapur’s participation in the SIFC meeting and assurance of cooperation on national issues are welcome. Still, it is inappropriate for the provincial government to present the budget before the federal government. 

To get the country out of its difficult economic situation, the IMF needs to provide a long-term package. The IMF wants to guarantee the implementation of its policies and ensure that the whole country is on the same page. 

Implementing the IMF’s preconditions fully is necessary to demonstrate goodwill and allow PTI to return to the national mainstream. 

He stated that further aggravating the situation would not yield any benefits, and added that the provincial government of KPK can secure facilities for PTI leadership by making positive contributions to national affairs.

According to Mian Zahid Hussain, 70 to 80 percent of the KP province’s expenses are dependent on the funds received from the federation. How can the province estimate its ongoing expenses and development costs before the federation makes its final financial decision?

According to Mian Zahid Hussain, these circumstances could jeopardise the staff-level agreement with the IMF, as the government must implement several conditions before concluding the agreement.

Because our rulers repeatedly fail to deliver on their promises, lenders also impose preconditions.

Now, the IMF is not ready to work with us on formal assurances. It wants the provinces to implement its conditions, and if any province obstructs them, the whole country will have to pay the price. 

Mian Zahid Hussain further said that the country is currently suffering from a huge economic crisis, and irresponsible politics in such a situation is against national interests.

Inflation has come down slightly, but people are yearning for more relief. People must put aside their political differences, unite and agree on the people’s broad interests, and refrain from taking an aggressive stance at this time.

Under these circumstances, despite their political differences, the provincial governments need to work together with the centre to address the challenges facing the economy. 

Mian Zahid Hussain stated that it would be a great national service if the Khyber Pakhtunkhwa government sent a message to the people in power that they are no longer associated with the May 9 events.