As the nation works to recover from devastating floods Prime Minister Shehbaz Sharif has requested on Monday that the International Monetary Fund (IMF) should postpone its demands for economic reforms before providing any further funding.
As Islamabad deals with the “nightmarish” scenario the PM claimed he was attempting to convince the IMF to allow Islamabad some breathing room.
The international lender wants Pakistan to terminate all remaining power and petroleum product subsidies that were given to the general public.
Reporters questioned PM Shehbaz about the IMF money block during a Resilient Pakistan Conference at Geneva.
With the currency falling and inflation reaching decades-high levels Pakistan’s economy has collapsed along with a simmering political crisis but the floods and the world energy crisis have added to the strain.
“We were already experiencing huge issues before these floods reached Pakistan,” the premier remarked.