The opposition rejected a deal that the government struck with the International Monetary Fund (IMF) for a bailout package for about $6 billion over the next three years to meet foreign debt obligations, Express News reported on Monday.
Spokesperson Pakistan Muslim League-Nawaz (PML-N) Marriyum Aurangzeb said: “The deal of IMF with the IMF has been successful and now an inflation bomb will be dropped on the people of Pakistan. Imran Khan, you handed over the country to the IMF for just $6 billion.”
Senior Pakistan Peoples’ Party leader Khursheed Shah said, “Following the deal with the IMF, unbearable inflation will be seen in the country.”
“It seems that a tsunami of inflation will emerge out of the IMF bailout package,” said PPP’s Sherry Rehman and hoped that the ‘tsunami’ will not make the people slaves of the IMF.
Jamaat-e-Islami (JI) Ameer Senator Sirajul Haq said: “The government has bowed down to the IMF’s condition of imposing more taxes. The people of Pakistan will become the IMF’s slaves after the agreement while it will also increase the gas, electricity and oil prices.”
Led by its Washington-based mission chief Ernesto Rigo, an IMF team visited Islamabad from April 28 to May 11.
The visit was originally scheduled to end on May 10, however, Rigo stayed in Pakistan for one more day to conclude the deal.
Foreign loans exceeded $90 billion, and exports registered a negative growth over the past five years, PM’s Adviser on Finance Dr Abdul Hafeez Shaikh said on Sunday while speaking to the state-run television.