The International Monetary Fund’s (IMF) managing director, Kristalina Georgieva advised governance 101 to Pakistan in her interview with Deutsche Welle, a German broadcaster.
The IMF MD said in the interview that IMF had asked Pakistan to take steps to function as a country and not get into a “dangerous place” where the country’s debt needed to be restructured as reported by the Dawn.
The IMF MD suggested two areas of focus for Pakistan. The first suggestion was to tax people who “are making good money” to contribute to the economy. The second suggestion was to ensure that subsidies are availed by the right people.
The IMF MD said “It shouldn’t be that the wealthy benefit from subsidies. It should be the poor [who] benefit from them,” as reported by Dawn.
Large queue’s outside the country's ever Tim Horton’s sparked an online controversy with people comparing the existence of “parallel Pakistan's”, one where one section of people are lining up for PKR550 cappuccinos while the other is waiting in queue for hours for subsidized wheat at PKR65/kg as the price of wheat has doubled to PKR140/kg as reported by Daily Hive.
The cash-strapped nation is in negotiation with the IMF to secure $6.5 billion in funding. The IMF is concerned about the policies of Pakistan and has asked the country to correct its measures before IMF would provide any help.
The IMF MD reiterated in the interview that the IMF is holding its stance that the poor people of Pakistan are protected. The financially distressed nation is struggling to tackle inflation and manage its struggling economy.
© Vygr Media Private Limited 2023. All Rights Reserved.
