Rizvia society, Neighborhood in Karachi, Pakistan

By Hamza AmeerIslamabad, May 30 At a time when Pakistans economic condition continues to worsen and inflation levels remain on a consistent high, the International Monetary Fund (IMF) has taken a note of the political developments in the country, urging Islamabad to follow the constitutional laws of the land.In a latest development, the global lender has called on Prime Minister Shehbaz Sharif to follow the constitutional laws to resolve the political disputes, further deteriorating the uncertain political situation in the country, directly affecting the economic condition.Prime Minister Sharif had recently contacted Kristalina Georgieva, Managing Director of the IMF, seeking to revive the halted $6.5 billion bailout package and to help Islamabad avoid a financial default.The discussion between Sharif and Georgieva took place held after Pakistan's Finance Ministry failed to break the deadlock over the loan talks in the past four months.But even after the high-level talks, the IMF mission chief of Pakistan Nathan Porter has highlighted the political unrest in the country, which many believe is unusual as it expands the IMF's focus to the political arena also."We took note of the recent political developments and while we do not comment on domestic politics, we do hope that a peaceful way forward is found in line with the Constitution and rule of law," said Porter.IMF's statement holds crucial importance because it comes at a time when the current government is doing a crackdown against workers and leaders of Imran Khan's Pakistan Tehreek-e-Insaf (PTI)."IMF's statement is going to push immense pressure on cash-strapped Pakistan, which seems to be linking the revival of the bailout programme with crackdown against PTI workers, abductions of people, breach of the 90-day constitutional limit to hold election in two provinces and trial of civil in military courts under the Army Act," said Javed Siddique, a senior political analyst.Other than the political view taken into consideration with on Pakistan by the IMF, it has also notified its pre-conditions, required to be met in order to unlock the bailout package.In order for Pakistan to unlock the bailout programme, Pakistan has to arrange foreign loans and restoration of foreign exchange market's proper functioning.Experts say one of the reasons why the Prime Minister intervened and contact the IMF MD was because of the recent statement by the Finance Minister Ishaq Dar, who criticized the the lender for being biased and shameful towards Islamabad, if it disapproved of the pending ninth review approval.However, time is moving against Pakistan as the IMF programme is scheduled to end within a month.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

Rizvia SocietyFOLLOW

Rizvia society, Latest News

Islamabad [Pakistan], May 31 : The Islamabad High Court (IHC) on Wednesday extended Pakistan Tehreek-e-Insaf (PTI) chairman and former ... ...

Islamabad [Pakistan], May 31 : Pakistan Tehreek-e-Insaf (PTI) chairman and former prime minister Imran Khan will appear before the ... ...

Islamabad [Pakistan], May 31 : Pakistan Tehreek-e-Insaf (PTI) chairman and former prime minister Imran Khan will appear before the ... ...

Islamabad [Pakistan], May 30 : Pakistan's former Prime Minister Imran Khan claimed that the central government are stooping to ... ...

Islamabad [Pakistan], May 30 : Former Pakistan Prime Minister and Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan has said the ... ...

Lahore [Pakistan], May 30 : An anti-terrorism court (ATC) in Lahore on Tuesday declared Pakistan Tehreek-e-Insaf (PTI) Chairman Imran ... ...

Islamabad, May 30 Pakistan Prime Minister Shehbaz Sharif on Tuesday expressed unwillingness on behalf of his government for ... ...

By Hamza Ameer Islamabad, May 30 At a time when Pakistans economic condition continues to worsen and inflation ... ...