Inflation would increase even more and reach 40%, according to PTI leader Hammad Azhar, if the coalition government complied with the IMF’s demands. He spoke at a ceremony here and predicted a serious food catastrophe.
He criticized the coalition government led by the PML-N and claimed that for the previous nine months, the economy had been in danger of failing. He argued that Shehbaz Sharif, the prime minister, should give the country hope that it can overcome the difficulties.
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In June of this year, the current agreement between Pakistan and the international loan organization will come to an end, at which point the nation will have to choose a new program.
The PTI leader emphasized the need for early elections and continued policy implementation, claiming that a five-year-term administration could decide on this.
In his criticism of the administration, the PTI leader asserted that 40% of the country’s businesses had closed and that no raw material LCs had been established.
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Ishaq Dar, the finance minister, had pledged to bring down the value of the dollar to below Rs 190, but he fell short of his target. Azhar noted that the interbank rupee rate is no longer relevant and that the open market price of the dollar is 40% higher.
Shehbaz announced on January 6 that an IMF delegation would be visiting Pakistan in the coming days to “take up and finalize” the Ninth Economic Review.
