Govt accepted IMF’s unacceptable terms, says Sherry Rehman

ISLAMABAD: Pakistan Peoples Party (PPP) Vice-President Senator Sherry Rehman on Thursday said the government accepted the International Monitory Fund (IMF)’s unacceptable terms.

“Billions of rupees were taxed on the people for a $1 billion tranche. There is no need to celebrate the $1 billion loan,” Sherry Rehman tweeted.

The PPP leader said stability in the economy did not come from the IMF loans but from economic policy which the government did not have.

Read more: IMF approves sixth tranche of loan programme for Pakistan: Shaukat Tarin

They bulldozed the mini-budget for a $1 billion installment, putting the burden of inflation on the people, she maintained.

Sherry said the government increased foreign debt of Pakistan by 60 per cent in just three years. “This government has borrowed Rs20.7 trillion, which is the highest loan ever taken by any government. Due to this, the total debt has exceeded Rs50 trillion. The debt-ridden government is taking loan of more than Rs17 billion every day,” she said.

She said the party that used to criticise loans was now celebrating a $1 billion loan from the IMF. “#PTIMF has put more economic shackles on Pakistan than any government before. Total debt is at a whopping Rs50.5 trillion – a 60 per cent increase in the last 3.5 years,” she tweeted.