IMF lacks trust because PTI govt went back on its word: PM Shehbaz

Prime Minister Shehbaz Sharif has said that the International Monetary Fund (IMF) lacked trust in Pakistan because of the previous government reneging on its agreement with the monetary institution.

In an address to Pakistan Muslim League-Nawaz (PML-N) senators in Islamabad on Thursday, the premier said that the Pakistan Tehreek-e-Insaf (PTI)-led government should not have finalised an agreement with the IMF if it had reservations.

He added that once the agreement was signed, it must have been enforced.

He stated that the monetary institution was bent on having Pakistan fulfil all the conditions of the agreement, adding that it was a difficult stage [talks] and that more difficulties would come.

He added that the terms of the deal had been decided, and expressed the hope that the matter would be solved within a few days.

However, he stated, the situation would not improve overnight once a deal was signed. He added that Pakistan would have to strengthen its financial position to make prosperity possible.

The premier also talked about the relief package worth Rs2,000 per month and that more such measures would be taken.

The premier also said that taxes were being imposed on the net income of the rich.

He further said that he would address the nation in a few days to apprise them of the government’s steps to improve the economy.

PM Shehbaz also thanked China for the $2.3 billion loan and for extending its help during these troubling times.