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      Rahul Gandhi criticizes Modi’s handling of relations with China

      Rahul Gandhi criticizes Modi’s handling of relations with China

      Chinese fans welcome ‘Comrade Musk’

      Chinese fans welcome ‘Comrade Musk’

      Syrian refugee becomes mayor of German village

      Syrian refugee becomes mayor of German village

      China declines US invitation for meeting in Singapore

      China declines US invitation for meeting in Singapore

      Shanghai records hottest May day in 100 years

      Shanghai records hottest May day in 100 years

      Erdogan launches new attack against Turkey’s LGBTQ Community

      Recep Tayyip Erdogan pays homage to his executed Islamic predecessor

      Earthquake jolts different parts of Punjab and KP

      Japan: Earthquake hits coast east of Tokyo

      Tipu Sultan bedchamber sword sold for $17.4 million

      Tipu Sultan bedchamber sword sold for $17.4 million

      Wall Street debt payments at risk of default

      Wall Street debt payments at risk of default

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      Meeting with Bilawal Bhutto demonstrates Pak-China close ties, Zhao Lijian

      Pakistan to develop its economy with great potential, Zhao Lijian

      OGRA reduces prices of LPG for June 2023

      OGRA reduces prices of LPG for June 2023

      Govt trying to put inflation burden over rich class, Dr. Aisha Ghaus

      Minister termes IMF mission chief’s statement as “interference”

      Ishaq Dar to lead high-ranking delegation for meetings with IMF, WB

      Govt shares budget proposal with IMF for review

      Ishaq Dar confirms to return Pakistan in July

      Islamic finance potentially able to address challenges of poverty, Dar

      US Ambassador calls on Finance Minister Ishaq Dar

      US Ambassador calls on Finance Minister Ishaq Dar

      World Bank approves $213 million in financing for Balochistan

      World Bank approves $213 million in financing for Balochistan

      OGRA takes action against illegal sale of petroleum products

      OGRA takes action against illegal sale of petroleum products

      Ishaq Dar to lead high-ranking delegation for meetings with IMF, WB

      Successfully conclude tasks pertaining to IMF, Ishaq Dar

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      Jordan’s Crown Prince Hussein bin Abdullah ties knot with Saudi architect

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      Arjun Kapoor finally speaks about her partner Malaika’s pregnancy rumors

      Arjun Kapoor finally speaks about her partner Malaika’s pregnancy rumors

      Hate against Muslims becomes fashionable in India, Naseeruddin Shah

      Hate against Muslims becomes fashionable in India, Naseeruddin Shah

      Ranbir to replace Salman Khan in Aamir Khan’s ‘Campeones’ remake

      Ranbir to replace Salman Khan in Aamir Khan’s ‘Campeones’ remake

      Highly-anticipated movie ‘Adipurush’ continues to make waves

      Highly-anticipated movie ‘Adipurush’ continues to make waves

      Arooj Aftab ignites social media debate on cultural labelling

      Arooj Aftab ignites social media debate on cultural labelling

      Music star Salman Ahmed condemns May 9 vandalism

      Music star Salman Ahmed condemns May 9 vandalism

      Celebrities, renowned personalities pay homage to martyrs

      Celebrities, renowned personalities pay homage to martyrs

      Indian TV star Nitesh Pandey passes away

      Indian TV star Nitesh Pandey passes away

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      French prosecutors charge VP with corruption in Qatar 2022 World Cup

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      Wicketkeeper Jimmy Peirson included to Australia’s squad for Ashes

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      No need to nullify NAB laws, Supreme Court

      PTI to return assembly if wants amendments in NAB laws, SCP

      IK including Bushra Bibi declares his assets including

      Imran Khan spend Rs900 m at Prime Minister Office between 2019 to 2021

      Peru sentences ex-president to 1.5 years in prison

      Peru sentences ex-president to 1.5 years in prison

      ISLAMABAD: Police mobile crushes Mother, Daughter to death

      ISLAMABAD: Police mobile crushes Mother, Daughter to death

      ECP unanimously finds PTI guilty of receiving prohibited foreign funds

      Imran Khan to send Rs10b notice to CEC in Toshkhana reference

      T20 World Cup: New Zealand thrashes hosts Australia in the first match

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      Voice of Sindh
      Home BUSINESS

      IMF not willing to release money, Miftah Ismail

      He blames Dar for sabotaging IMF deal

      Web Desk by Web Desk
      in BUSINESS, FINANCE
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      Former finance czar Miftah Ismail claimed that the International Monetary Fund (IMF) was not interested in releasing money to Pakistan due to a trust deficit in the incumbent government.

      Miftah, during a session titled ‘Pakistan in the Midst of Crisis’ organized by a private university in Karachi, held current Finance Wizard Ishaq Dar responsible for the delay in the IMF agreement and said he sabotaged the agreement by making false statements.

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      He further claimed that Pakistan had three times made sovereign commitments and then backtracked on them, and now the Washington-based lender is not interested in giving a loan tranche to Pakistan because they don’t trust the government in Islamabad.

      Commenting on the gasoline relief subsidy announced by the government, Miftah believed that this formula would not be effective as subsidies can’t be provided by taking loans.

      Earlier, the IMF expressed concerns about the fuel subsidy announced by the federal government, aimed at easing the burden on lower-income groups already grappling with runaway inflation.

      The IMF’s resident representative for Pakistan, Esther Perez Ruiz, has expressed concern about a recent government plan to subsidize lower-income motorists by increasing fuel prices for wealthier drivers.

      IMF staff are seeking more information about the scheme’s operations, costs, targeting, fraud and abuse protection, and offsetting measures.

      “Fund staff are seeking greater details on the scheme in terms of its operation, cost, targeting, protections against fraud and abuse, and offsetting measures, and will carefully discuss these elements with the authorities,” she said while talking to Bloomberg.

      Further, the representative said Pakistan has made significant strides toward fulfilling its policy obligations, which would enable the country to secure billions of dollars in loans and avert a default.

      While Pakistan is still grappling with the aftermath of last year’s devastating floods, it is also preparing for upcoming elections, and the IMF funds would offer some relief and help to revive the struggling economy.

      “A staff-level agreement will follow once the few remaining points are closed,” Ruiz told. “Ensuring there is sufficient financing to support the authorities in the implementation of their policy agenda is the paramount priority.”

      The country’s efforts include raising taxes and energy prices, as well as allowing its currency to weaken to revive a $6.5 billion IMF loan package.

      Tags: IMFmiftah ismail

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      Voice of Sindh is an initiative designed to uncover the untold stories of Sindh. It aims to preserve and promote the diverse culture, heritage, history, and traditions that make Sindh the bastion of pluralism and progress.

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