ISLAMABAD: Prime Minister Shehbaz Sharif vowed to liberate the country from reliance on the International Monetary Fund (IMF), asserting that the forthcoming agreement for financial assistance with the global institution will mark the end of such engagements in the nation’s history.
“The ongoing IMF program will be the final one in Pakistan’s history,” vowed the PM during his address marking the completion of the government’s first 100 days in office.
During Prime Minister Shehbaz’s address, his first since the introduction of the federal budget for fiscal year 2024-25, he emphasized ending Pakistan’s reliance on foreign aid and bailouts. The government is presently engaged in discussions with the Fund for a loan estimated between $6 billion to $8 billion, aiming to secure a program and avoid default.
Prime Minister Shehbaz Sharif noted that some countries only approach the International Monetary Fund (IMF) once and then no longer require its assistance. “We have approached the IMF 24 to 25 times. I assure you today, if we stick to our program and achieve our targets, the next IMF agreement will be the final one in Pakistan’s history,” he stated.
The Prime Minister also pledged to eliminate all institutions, ministries, and departments that are draining the treasury, stating that this action alone will save taxpayers billions of rupees.
The government’s foremost duty is to terminate institutions like the Public Works Department (PWD) that do not contribute to public service, Prime Minister Shehbaz Sharif emphasized, labeling it as the “most infamous” for corruption.
Shehbaz criticized the department’s perks and privileges, including salaries, which he claimed amounted to no less than Rs2 billion annually.
He mentioned that the funds received from various ministries and departments for development projects would amount to several hundred billion rupees.
He stated that if the department had a fund pool of a hundred billion rupees for development, then 50 percent or more would be lost to corruption. The Prime Minister mentioned that a ministerial committee had been established for this specific purpose.
Prime Minister Shehbaz also revealed that a leading global company had been assigned to fully digitize the Federal Board of Revenue (FBR). He mentioned that ineffective personnel within the FBR had been marginalized.
