Achi news desk-
Whether you call it a tragedy or a farce, the truth is that despite 23 failed loan projects and repeated failures by the people, the ruling elites of the IMF and Pakistan are not satisfied learn from the past. It is no secret that the IMF’s programs have not reached their goals, as the nation looks for a longer and more extensive bailout; this is because neither the Fund nor the authorities have shown enough interest in making the necessary reforms. The IMF has been focusing on short-term stabilization measures, despite the costs caused to the population and the economy, while Pakistan’s leaders have been more willing to obtain funds and accreditation to maintain their spending programs on the basis import in order to show economic growth. For example, there is a lot of discussion at the start of a program about making the rich pay their fair share. However, the lender agrees to impose stricter budgetary constraints on the employed and poor classes through higher tax rates for fixed rate payers or indirect taxes. Therefore, it is not surprising to hear that the IMF is to blame for this nation’s ongoing troubles.
The Fund has praised “excellent program implementation” in its staff report on the recently completed assessment of the nine-month Contingency Arrangement. The mission manager claims that “Pakistan’s economic and financial situation in the months following the first review has improved, with confidence and growth both still recovering as a result of prudent policy management and the return of inflows from bilateral and multilateral partners. However, it does not mention at all how the historically high cost of energy has affected the lives of most citizens or how rising indirect taxes have made their lives more difficult. The nation’s poverty rate is rising, and even middle-class households are struggling to make ends meet as a result of skyrocketing inflation, job losses, and wage cuts in the fruitless attempt to survive’ this disaster. The rich still live extravagant lives, traveling abroad for holidays and using borrowed money to buy expensive foreign vehicles. due to careful policy management, the return of inflows from bilateral and multilateral partners, and continued growth and recovery of confidence. However, it does not mention at all how the huge increase in energy costs has affected the lives of most residents or how rising indirect taxes have made their financial situation more difficult. As the nation’s poverty rate rises, even middle-class households are struggling to make ends meet while dealing with skyrocketing prices, job losses, and wage cuts in the desperate hope of escaping this disaster . The rich are still living extravagant lives, taking holidays abroad and using borrowed money to buy expensive foreign vehicles. The lender has stated that the overarching objectives will not change despite Pakistan’s request for another bailout, which the prime minister said yesterday was necessary for maintaining economic stability. This time, will the result be different? The common Pakistani can only look forward to brighter times.
