Govt can’t use IMF as ruse to hide its economic failure: Bilawal

ISLAMABAD: Pakistan People’s Party Chairman Bilawal Bhutto-Zardari has said that the ruling government has put nation’s pride at stake by signing an agreement with the International Monetary Fund on strict conditions, emphasizing that the government cannot hide its failure to control inflation by putting blame on the international lender.

In a statement released in Karachi on Sunday, the PPP chairman hit hard at the ineffective economic policies of the government and said that the government had put the nation’s pride at stake by agreeing to the tough conditions of IMF.

He said the government wanted to conceal his economic ineptness by putting blame on the IMF for unbridled inflation in the country.

“If India could overcome inflation by 4.20 percent and Bangladesh could do the same by 5.54 per cent, during the Covid pandemic; why was the ratio 10.9 percent in Pakistan?” he asked.

He lamented that the mafia working under Prime Minister Imran Khan had raised the chicken meat prices 110 percent. He said the Pakistan Tehreek-e-Insaf elite had earned profit of billions of rupees after raising chicken meat prices. Now the same profiteers are bringing the chicken prices down and claiming credit for that, he lambasted.

Bilawal said people were getting poorer and PM Khan was planning to dole out billions of rupees on PTI parliamentarians. He said during the worst economic crisis the country was facing right now, giving Rs96 billion to PTI lawmakers was an anti-people move.

The PPP chief observed that a common man did not have money, criticising the premier for "planning to hand over billions to PTI lawmakers in the forthcoming budget".

“Instead of handing out billions to those elected through rigging, the premier should spend money from the exchequer on people’s welfare,” the PPP chief maintained.

Bilawal stated that the government had remained unable to bring about its five-year economic plan. “If the PTI’s policy is to plan the economy on the IMF’s directions, then the premier should tell people openly that he came to power without any planning.

He lamented that after the expiry of the 11th five-year economic plan, the PTI government had failed to bring about its own five-year economic plan.

A day earlier, the PPP had decided to support the Pakistan Muslim League-Nawaz in the lower house despite their “tantrums”, stating that the party had prioritised national issues and the budget over differences between the political parties.

Bilawal while speaking to the media added that while his party would vote on the day in the National Assembly, it was PML-N President Shehbaz Sharif’s responsibility, as the leader of the opposition to stop the government’s budget.

“So, despite their insults, the PPP went to Shehbaz Sharif’s invitation for dinner so we can rid the people of economic difficulties […] unfortunately our host was publicly insulted after that dinner by some officeholders of the PML-N,” said Bilawal, adding that flinging statements at guests was not a part of “our tradition, values and culture”.

Similarly, PPP leader Farhatullah Babar told a local news outlet that the PPP delegation had assured Shehbaz of their support for all moves of the joint opposition that would block the way of “anti-people decisions” in the upcoming budget.

He said that the people would soon hold PTI and PM Imran accountable for their alleged corruption and mismanagement, as he vowed his party would not back down from its stance despite the government’s pressure on it.

Bilawal said that PPP would not back down as it believed in the power of the people and parliament, adding if the opposition parties were not capable of sending the government packing, then in the next election, the people would do their work for them.

“Why are you begging from the Arab countries and the IMF?” asked the PPP chairperson, dismissing the government’s claims that Pakistan was progressing economically.

Bilawal said that whether it was Finance Minister Shaukat Tareen or any other minister, this government was now coming to the terms that the PPP’s stance was correct.

“If you remember, president Zardari had said ‘NAB and the economy cannot run together,'” he said.

Hitting out at the prime minister, Bilawal said judging by PM Imran’s statements, it was clear he was not aware of the common man’s problems.

“The prime minister says Pakistan’s difficult time is over. Not sure about the common man but the IMF’s difficult time is over, for sure,” he said sarcastically.

He said that the incumbent finance minister had admitted that the government had been handling financial matters in a poor manner.