Economist Explains How PTI Govt got out of economic crisis without IMF
Economist and financial analyst, Muzzammil Aslam explained about all the achievements made by the PTI government without going to IMF.
Mr. Muzzammil posted a status on his official Facebook profile in which he wrote about the efforts of PTI government. Here is how he appreciated the government of PTI and Imran Khan.
Discussing UAE delegation:
After a delegation from UAE visited Pakistan, opposition parties, Pakistani media and people are expressing their own thoughts.
There is a thing ‘Intellectual Honesty’ which is missing in Pakistan and is vanishing completely.
Pakistan has been facing a huge economic crisis for a few years and it doesn’t own anything that can be sold in order to get money.
Opposition parties are criticizing the ruling government and questioning about the loans that are being taken.
The government of Peoples’ Party:
In 2008 when Peoples’ Party came, nobody trusted them except IMF and PPP didn’t get any type of foreign assistance.
How did Ishaq Dar tackle this:
When Ishaq Dar came, he was asked to go to the IMF for money. So, when IMF endorsed him, he got some shares. Their government made a loss of $22billion and Pakistan’s exports faced worst condition ever.
Ruling Pakistan Tehreek-e-Insaf (PTI) government:
Explaining about 3rd government of Pakistan, Mr. Muzzammilsaid that Pakistan Tehreek-e-Insaf (PTI) collected $15billion and he appreciated the efforts of PTI government.
PTI achieved a lot without going to IMF:
To get an IMF package only depends on PM Imran Khan. The main reason to get the IMF package is the investor’s confidence. Through IMF, the confidence level of investors increases.
PTI built investor’s confidence:
There was a lack of investor’s confidence in previous governments but PTI has done it so well and built their confidence.
Saudi Arab offered $15 billion, it also agreed to form petrol chemical complex in Gwadar and two RLNG plants.
Khalifah Refinery was finalized in the Pervez Musharraf’s government that disappeared for straight 10 years and now for this, $6billion is set to reach Pakistan.
The commitment of FDR:
Without IMF, the ruling government has achieved so many things including the commitment of FDR (Foreign Direct Investment).
Financial Action Task Force:
In these conditions, the ruling government was facing Financial Action Task Force (FATF) also, but still achieved much in various sectors and proved that they can solve their issues without IMF.
In some time, Pakistan will see better days as the analysts are seeing huge confidence in investors.
Mr. Muzzammilsuggested that the government should learn from the mistakes of previous governments and each step should be taken carefully because things are improving and the next 12 months are important.