Karachi port terminals, Airport in Lahore, Pakistan

Former Pakistan Prime Minister Imran Khan has termed the International Monetary Fund (IMF) deal as "treatment of cancer with disprin (aspirin)," Dawn reported.He said that the IMF agreement will only provide temporary relief as it will eventually lead the country to a major disaster as the burden of loans will continue to increase.Imran Khan made the remarks in a televised address from his Zaman Park residence on Wednesday.Criticising the economic policies of the country's government, the Pakistan Tehreek-e-Insaf (PTI) Chairman said, "Do not destroy the country just to oust Imran Khan from the political arena," according to Dawn.Khan said that Pakistan is plunging into a financial crisis and more chaos like Sri Lanka, as per the news report.Citing the latest report of the Fitch Rating agency, the former Pakistan PM warned that the situation would deteriorate.As per the news report, Fitch Ratings agency has downgraded Pakistan's long-term foreign-currency issuer default rating to 'CCC-', implying that the country has already reached the level of Sri Lanka.Imran Khan said that Pakistan Democratic Movement (PDM) government had attempted to shift the burden of bringing more inflation to the shoulders of Pakistan President Arif Alvi by asking for an ordinance to approve the mini-budget, as per the news report. He said that the mini-budget will bring another wave of inflation and the salaried class and housewives will be feeling its effect as the purchasing power will witness a drop."Even the PDM government is reluctant to get approval of the mini-budget from its own members in the parliament," Dawn quoted Imran Khan as saying.He accused the Pakistan PM Shehbaz Sharif-led government of plunging Pakistan into a plethora of crises and stressed that the nation is now left with only two choices, either sit idle and wait for the imminent disaster or become part of PTI's protest to ensure that rule of law is upheld and general elections in Punjab and Khyber Pakhtunkhwa are conducted within 90 days, as per the news report.Imran Khan said that he could see that Pakistan was heading towards default and added that the expected IMF agreement will only provide temporary relief as it will eventually lead Pakistan to a major disaster, Dawn reported.The former Pakistan PM said that the only way to bring the country out of the quagmire was to conduct general elections and let the people-mandated government take "tough decisions." He emphasised that "corrupt and incompetent" rulers have no solution for the welfare of the people and they were focusing on getting their corruption cases closed. "Only a government, backed by the people of Pakistan, can introduce structural reforms to remove the cancer and put the country on the path to recovery," Dawn quoted Imran Khan as saying.Pakistan and International Monetary Fund failed to reach a staff-level agreement to unlock the USD 1.1 billion loan tranche after 10 days of "tough" talks, The News International reported. The negotiations which took place between IMF and Pakistan from January 31 to February 9, concluded in Islamabad. The IMF's mission had arrived in Islamabad to hold talks with Pakistani authorities.( With inputs from ANI )Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Karachi Port TerminalsFOLLOW

Karachi port terminals, Latest News

Islamabad, Feb 18 The Election Commission of Pakistan (ECP) on Saturday demanded President Arif Alvi to use "better ... ...

The Army is going to start summary court-martial proceedings against its soldier who was allegedly caught passing on secret ... ...

Sialkot, Feb 18 Pakistan's Defence Minister Khawaja Asif suggested on Saturday that one-fourth of Pakistans debt could be ... ...

A protest rally was held in Khuzdar city of Pakistan's Balochistan province against the enforced disappearances of Rashida Zehri ... ...

Karachi, Feb 18 A total of seven people have died and 19 others were injured following a terror ... ...

Karachi, Feb 18 At least three attackers were killed and 10 people wounded on Friday night when a ... ...

The Pakistan government on Wednesday while adding fuel to the consumer's misery, increased the General Sales Tax (GST) to ... ...

Former Pakistan Prime Minister Imran Khan has termed the International Monetary Fund (IMF) deal as "treatment of cancer with ... ...