Muhammad Aurangzeb says that the present government has worked hard to reduce the Mangai and this is not just an empty claim.
Federal Finance Minister Muhammad Aurangzeb has said that our program with the IMF is almost complete and hopefully, this IMF program will be our last.
The International Monetary Fund on Wednesday approved a new $7 billion package after Pakistan shifted some financial responsibilities to the provinces to reform the agricultural income tax and limit subsidies.
Current IMF Program
Pakistan has been suffering from an economic crisis for years and Pakistan has taken the IMF program before. When Pakistan takes a loan from the IMF, it faces many problems, it also has to change its policies, it is also true that when someone gives you a loan, they take away your autonomy.
Since 1958, Pakistan has borrowed more than 20 times from the IMF , making Pakistan the fifth largest debtor country. For the last three years, Pakistan’s market has crashed badly, and the confidence of businessmen has gone down, This is also a major reason why Pakistan has to turn to the IMF again and again.
Whenever the IMF gives a loan to a country, it also asks it to change its policies, tax different people, to give powers to the provinces. When a country changes its policies at the behest of an outside force, it loses its authority.
