WEB DESK
Prime Minister Shehbaz Sharif on Saturday said that tough conditions imposed by the International Monetary Fund (IMF) is forcing the government to raise prices of electricity in the country.
He said this while addressing the graduation ceremony of Public Service Commission in Lahore. He noted that his administration always valued merit and rewarded hard work of personnel operating in public service.
He added that poor decisions taken over the past 75 years has contributed to its current poor economic condition.
Embarrassed to ask for additional loan
During the speech, he narrated how he was embarrassed to ask for additional funds from UAE during his recent trip to the Gulf Emirate.
“It was not on the agenda but I gathered courage and laid out my problems before the UAE ruler and asked him for an additional $1 billion,” he said.
He added that in their one-on-one meeting, he elaborated how embarrassed he was asking for more money and what the UAE may think but that he considered them as elder brothers and that Pakistan’s current situation was such that he was left with no other option.
“On one hand we have a nuclear weapon in our pocket but on the other we have this economic crisis ,” he recalled telling UAE President Mohammed Bin Zayed Al Nahyan.
At this, Shehbaz said, Al Nahyan said that he had approved the funds out of his own will and that they pray that God eases Pakistan’s troubles.
Shehbaz said that harsh conditions of the IMF has backed them into a corner where the poor was getting crushed and that they needed help to get back on their feet.
