ISLAMABAD: State Minister for Finance and Revenue, Dr Aisha Ghaus Pasha, criticized the International Monetary Fund (IMF) for its perceived interference in Pakistan’s internal matters. Her comments came in response to remarks made by Nathan Porter, the IMF Mission Chief for Pakistan, regarding the country’s political situation.
Dr Pasha described Porter’s statement as “extraordinary” and emphasized that Pakistan’s actions were in accordance with the law. However, Dr Pasha confirmed that Prime Minister Shehbaz Sharif had reached out to IMF Managing Director Kristalina Georgieva and reassured her that Pakistan would fulfill all its obligations. The government was committed to meeting the requirements of the IMF program.
When asked about Pakistan’s contingency plan if it fails to convince the IMF before the program’s expiration on June 30, Dr Pasha stated that the finance ministry was not idle. She mentioned the existence of a Plan B but emphasized that their priority was to revive the IMF program. She highlighted that a delay in reaching an agreement would be detrimental to the interests of both Pakistan and the IMF.
In his statement on Tuesday, Nathan Porter acknowledged recent political developments in Pakistan while refraining from commenting on domestic politics. He expressed hope that a peaceful way forward would be found in accordance with the Constitution and the rule of law. Porter also mentioned that the IMF was engaging with Pakistan to prepare for the upcoming board meeting, with discussions focusing on the budget for the next financial year. He outlined several demands, including the restoration of foreign exchange market functioning, aligning budget preparations with program goals, and ensuring adequate financing. He emphasized that overcoming economic and financial challenges would require sustained policy efforts and reforms to foster strong and inclusive private-led growth in Pakistan.
