According to Dar, all of the matters concerning the IMF’s ninth review have been “finished.”
Miftah Ismail, a former minister, claims that if the government does not receive a bailout from the IMF, other financial institutions will withhold financing.
ISLAMABAD: On Tuesday, Finance Minister Ishaq Dar declared that all issues relating to the IMF package’s ninth review had been resolved and that payments through to June had been planned.
The finance czar also stated that Pakistan was seeking financial assistance from Saudi Arabia, including raising the present delayed oil payment facility provided by the kingdom to $2.4 billion annually, in an interview with a private media outlet.
“I have spoken with the Saudi finance minister, and they have given me a favourable reaction. They claim to be behind us, he continued.
He insisted that China and Saudi Arabia were having constructive discussions about providing financial assistance.
The minister emphasised that the restriction on purchasing Russian oil at a discount had been abolished and that US officials had informed him of the creation of a G7 pricing committee for Russian oil products. He added that there would be a price cap, with which he agreed.
Dar said of Punjab Chief Minister Pervaiz Elahi that PML-N leader Nawaz Sharif was initially hesitant to accept him as a candidate, but Dar was able to persuade him. However, he continued, Elahi’s actions since taking office have been a “blow,” and he has withdrawn his support for the Punjab chief minister.
Elahi eventually sided with the Pakistan Tehreek-e-Insaf (PTI) camp, after first appearing unsure of his political allegiances at the time of the no-confidence motion against former premier Imran Khan.
Dar claimed that Elahi received two calls from those who forced him to travel to Bani Gala and counselled him to form a partnership with the PTI.
Soon, read Saudi cash financing. Dar
The minister further said that Pervaiz Elahi informed former army head General Qamar Javed Bajwa of advice to join the PTI group and that Gen Bajwa insisted Elahi should do “whatever he wanted.”
He added that the current coalition government had a “Plan B” if the army chief’s summary had been rejected after Bajwa retired. Dar thought that the structure and organisation will be improved by the next chief of army staff (COAS).
Dar claimed that he informed President Dr. Alvi that early elections were not possible and that negotiations with the opposition PTI could not take place with conditions. He insisted that the previous ruling party must travel alone if it wishes to attend the gathering.
Threat of default
Before the IMF programme resumed, according to Dar’s predecessor, former finance minister Miftah Ismail, there would still be a chance of default.
Miftah made the point in an interview with a local TV station that Pakistan would default on its debts if the IMF programme was not reinstated and other foreign financial institutions refused to lend the country money.
He proposed that in order to maintain economic stability, the current administration tax the wealthy.
Imran Khan, according to the PML-N leader, has pushed Pakistan toward default and desired to see it do so.
“My sister Maryam tweeted on little topics which she could have discussed over the phone,” Miftah stated in response to Maryam Nawaz’s comments against his decisions made while he was the finance minister.
