ISLAMABAD: A top Pakistan Tehreek-e-Insaf (PTI) party leader on Friday denied speculations that former prime minister Imran Khan wanted to compromise the country’s economic interests to make political gains in a letter to the International Monetary Fund (IMF), saying his party would never work against Pakistan.
The statement came a day after an IMF spokesperson told the media that the international lender did not want to comment on political developments in Pakistan in the wake of the general elections earlier this month which Khan’s party said were heavily rigged.
Prior to that, Khan’s legal team said he would send a letter to the IMF, which helped stabilize Pakistan’s economy when it was nearing default, requesting its officials to seek an independent audit of the February 8 national polls.
Pakistan is already under a short-term IMF loan program that is due to expire next month. The newly elected government is expected to negotiate yet another bailout package with the international lending agency in the coming months.
“We will not do anything that poses a threat to the state, causes harm to the state or damages the country’s economy,” Barrister Gohar Khan, PTI’s top leader in Khan’s absence, told a group of journalists in Rawalpindi. “The letter will be shared with you. You can read it.”
“Pakistan Tehreek-e-Insaf has developed projects for the welfare of the people,” he continued. “It brought investment to Pakistan [during its tenure].”
Former PM Khan has faced legal challenges since he was ousted from power in a no-confidence vote in April 2022. He has been in prison after being convicted on corruption and other charges since August last year.
Another high-profile PTI leader, Barrister Ali Zafar, also tried to defend Khan’s decision to write to the IMF, saying Pakistan always came first and foremost for his party.
“We believe that Pakistan should continue to engage with IMF in order to ensure financial discipline, good governance and economic stability which is critical for the prosperity of the people of Pakistan,” he said in a statement.
“While we will continue to support all steps in this direction taken for the benefit of the country and in national interest, PTI will continue its struggle for democracy and raise its voice at all forums and expect the international community’s support,” he added.
According to media reports, Pakistan plans to get a new IMF loan of at least $6 billion, with the talks likely to begin in March or April.
Ex-PM Khan’s party says no intention to compromise Pakistan’s economic interests in letter to IMF
https://arab.news/gww2e
Ex-PM Khan’s party says no intention to compromise Pakistan’s economic interests in letter to IMF
- Khan’s legal team said he wanted to write a letter to the international lender, asking it to seek election audit
- Khan’s party says it cannot damage the country’s economy, recalls developing welfare plans for its people
Pakistan orders four-day workweek, shuts schools to save fuel amid Middle East oil crisis
- The development comes as ongoing US-Israeli strikes on Iran disrupt oil supplies in Strait of Hormuz, push prices past $119 a barrel
- Islamabad bans government purchases, cuts fuel allocation for vehicles as well as workforce in public and private offices by 50 percent
ISLAMABAD: Prime Minister Shehbaz Sharif on Monday announced austerity measures, including a four-day work week, cuts in government expenditures and closure of schools, to offset the impact of rising global oil prices due to an ongoing conflict in the Middle East.
Global fuel supply lines have been disrupted in the Strait of Hormuz, which supplies nearly a fourth of world oil consumption, after Tehran blocked it following United States-Israeli strikes on Iran and counterattacks against US interests in the Gulf region.
Oil prices surged more than 25 percent globally on Monday to $119.50 a barrel, the highest levels since mid-2022, as some major producers cut supplies and fears of prolonged shipping disruptions gripped the market due to the expanding US-Israeli war with Iran.
In his televised address on Sunday night, Sharif said global oil prices were expected to rise again in the coming days but vowed not to let the people bear their brunt, announcing austerity measures to lessen the impact of fuel price hikes.
“Fifty percent staff in public and private entities will work from home,” he announced, adding this would not be applicable to essential services. “Offices will remain open for four days a week. One-day additional off is being given to conserve oil, but it would not be applicable to banks.”
Sharif didn’t specify working days of the week and the government was likely to issue a notification in this regard.
He said a decrease of 50 percent was being made in fuel allocation for government vehicles immediately for the next two months, but they would not include ambulances and public buses.
“Cabinet members, advisers and special assistants will not draw salaries for the next two months, 25 percent salaries of parliamentarians are being deducted, two-day salaries of Grade 20 and above officers, or those who are paid Rs300,000 ($1,067) a month, are being deducted for public relief,” he said.
Similarly, there will be 20 percent reduction in public department expenses and a complete ban on the purchase of cars, furniture, air conditioners and other goods, according to the prime minister.
Foreign trips of ministers and other government officials will also be banned along with government dinners and iftar buffets, while teleconferences and online meetings will be given priority.
“All schools will be off for two weeks, starting from the end of this week, and all higher education institutions should immediately begin online classes,” he said.
Sharif’s comments were aired hours after Pakistani authorities said the country had “comfortable levels” of petroleum stocks and the supply chains were functioning smoothly, despite intensifying Middle East conflict.
Petroleum Minister Ali Pervaiz Malik said three oil shipments were due to reach Pakistan this week, state media reported.
Meanwhile, Pakistan Navy (PN) launched ‘Operation Muhafiz-ul-Bahr’ to safeguard national energy shipments, the Pakistani military said on Monday, amid disruptions to critical sea lanes due to the conflict.
The navy is conducting escort operations in close coordination with the Pakistan National Shipping Corporation (PNSC), according to the Inter-Services Public Relations (ISPR), the military’s media wing. It is fully cognizant of the prevailing maritime situation and is actively monitoring and controlling the movement of merchant vessels to ensure their safe and secure transit.
“With approximately 90 percent of Pakistan’s trade conducted via sea, the operation aims to ensure that vital sea routes remain safe, secure, and uninterrupted,” the ISPR said on Monday. “Currently, PN ships are escorting 2 x Merchant Vessels, one of which is scheduled to arrive Karachi today.”
