'Beyond imagination': Pakistan PM on IMF fund bailout conditions

‘Beyond imagination’: Pakistan PM on IMF fund bailout conditions

Pakistan Prime Minister Shehbaz Sharif said on Friday the International Monetary Fund (IMF) was giving his country a “tough time” over unlocking stalled funding from a $6.5 billion bailout at a time of “unimaginable” economic crisis. Hours after his remark, the Pakistani rupee hit a record low against the US dollar in a steep slide since last week.

“Our economic situation is unimaginable,” the premier said. “The conditions we have to fulfil are beyond imagination,” he said, but admitted that the country has no option but to accept them.

“You all know we are running short of resources,” Sharif said, adding the country was “facing an economic crisis.”

He made the comments in a meeting of civil and military leaders in the northwestern city of Peshawar, where he chaired to prepare a response to Monday’s mosque bombing that killed over 100 people.

He was speaking in the context of funds the country might need for any military or counter-terrorism response to the resurgent Islamist militancy. IMF’s Pakistan representative did not immediately respond for comment.

PM invites Imran Khan for talks 

Pak PM Shehbaz Sharif has invited politicians including opposition leader Imran Khan for a conference amid negotiations with the IMF to avoid bankruptcy. Sharif has called an all-parties conference on February 7 amid economic and terrorism challenges.

Arrange for your own security: Pak’s Punjab govt tells Chinese nationals

The government in Pakistan’s Punjab has told Chinese nationals residing in the province that it will not provide security to all of them and asked them to hire private security firms for the purpose, amidst frequent terror attacks in the country.

The directive from the home department of Punjab province was issued on Thursday, days after the Peshawar city terror attack. However, the Punjab government clarified that it would continue to provide security to Chinese nationals working on the China-Pakistan Economic Corridor and other govern ment-related projects in the province.

In the past, there have been several incidents in Pakistan in which Chinese nationals residing in the country for government and private projects have been targeted.
                                                                                                                                                                      PTI