ISLAMABAD: Former prime minister Imran Khan said on Friday he was concerned the country’s deteriorating economic situation was likely to threaten its national security, adding anyone coming to Pakistan’s financial rescue was likely to “ask for something in return.”
Khan issued the statement hours after the country’s premier, Shehbaz Sharif, announced he was hopeful about a deal with the International Monetary Fund (IMF) within January which would ensure the resumption of the ninth performance review under a loan facility which has been pending since September.
Sharif assured the nation he was certain that Pakistan would overcome its ongoing economic crises once the deal was signed.
“I fear for the country’s national security since whoever will bail us out will impose conditions on us, just like Sri Lanka was asked to reduce its army by 50 percent,” Khan said in a televised address. “The government has decided to go and beg the IMF to revive the economy. But remember they will ask for something in return.”
The former premier, who was ousted from power last April in a parliamentary no-trust vote, said the IMF would expect the government to increase the prices of petroleum products and raise power tariffs which would cause greater suffering to the masses.
“The government leaders, who have stashed their wealth abroad, don’t care about the country since they have no stakes in Pakistan,” he continued.
The IMF announced on Thursday it was sending its mission to Pakistan on January 31 to discuss a $6 billion loan program, originally signed in 2019 by Khan’s administration, which was topped up with another $1 billion last year.
The country desperately needs next IMF loan tranche to shore up its dwindling forex reserves that are barely enough to cover a month of imports.
The IMF stalled disbursements last year since the government was reluctant to implement stringent economic reforms, such as removal of various subsidies, amid soaring inflation in the country.
