His clarification comes hours after the International Monetary Fund (IMF) rubbished claims that it has connected nuclear-programme-related strings for the revival of Pakistan’s bailout bundle.
Pakistan Finance Minister Ishaq Dar (AP/File)
By Press Trust of India: Pakistan’s Finance Minister Ishaq Dar stated on Monday that sure technical causes had been behind the delay in an settlement with the IMF as he clarified that his current remarks in regards to the nation’s nuclear and missile programme had been getting used out of context.
His clarification comes hours after the International Monetary Fund (IMF) rubbished claims that it has connected nuclear-programme-related strings for the revival of Pakistan’s much-anticipated bailout programme that has been stalled for months.
Dar final week stated within the Senate that there can be no compromise on the nation’s nuclear and missile programme. He made the remark in response to Senator Raza Rabbani’s questions in regards to the delay in signing the settlement with the IMF. In a press assertion, Dar stated that his feedback as regards to Pakistan’s nuclear programme had been in response to a colleague Senator’s particular query, whereby, “I emphasised that Pakistan has the sovereign right to develop its nuclear programme, as it best suits our national interests. Without any external dictation, which, by no means should in any way whatsoever be linked with the ongoing negotiations with the IMF.”
“It is clarified that neither the IMF nor any country has attached any conditionality or made any demand from Pakistan with regard to our nuclear capability and the delay in IMF staff-level agreement is purely due to technical reasons, for which we are continuously engaged with the IMF in order to conclude it at the earliest,” he stated.
Cash-strapped Pakistan is awaiting a much-needed USD 1.1 billion tranche of funding from the Washington-based international cash lender, which was initially on account of be disbursed in November final yr. The funds are a part of a USD 6.5 billion bailout bundle the IMF authorised in 2019, which analysts say is essential if Pakistan is to keep away from defaulting on exterior debt obligations.
Pakistan, at present within the throes of a significant financial disaster, is grappling with excessive exterior debt, a weak native foreign money and dwindling overseas trade reserves, sufficient to shore up for barely one month’s imports. Esther Perez Ruiz, the IMF’s resident consultant in Islamabad, has denied attaching any strings to the External Fund Facility (EFF), based on Geo TV.
“Regarding recent speculation that programme discussions with the authorities for the ninth review under the IMF-supported programme may have covered Pakistan’s nuclear weapons programme, I want to be categorical that there is absolutely no truth to this or any insinuated link between the past or current IMF supported programme and decision by any Pakistani government over its nuclear programme,” the report said, quoting the official.
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The IMF chief said discussions have exclusively focused on economic policies to solve Pakistan’s economy and balance of payments problems, in line with the Fund’s mandate for promoting macroeconomic and financial stability. Apart from the IMF, Pakistan Tehreek-e-Insaf party’s Shah Mahmood Qureshi assailed Dar and demanded that Prime Minister Shehbaz Sharif issue a policy statement on the remarks of Dar.
“No one has the appropriate to inform us what sort of nuclear programme we should always have and missiles of which vary we should always have. We have our atomic arsenal in South Asia-specific and to make sure our defence,” he said.
The controversy erupted after Dar assured Parliament that the federal government would not make any compromise on the country’s nuclear and missile programme despite tough economic conditions and hurdles to secure a loan from the IMF. “Let me guarantee you that no person goes to compromise something on the nuclear or the missile programme of Pakistan — no manner,” Dar instructed Parliament final week.
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Dar additionally not directly held Pakistan Tehreek-e-Insaf (PTI) get together and its chief Imran Khan chargeable for the delay within the IMF funding as he blamed the then authorities of Imran Khan for agreeing on robust situations to get the funding. Separately, Prime Minister Shehbaz Sharif stated that Pakistan’s nuclear programme was being “jealously guarded by the state”. Pakistan has been internet hosting the IMF mission since early February to barter phrases of the deal, together with the adoption of coverage measures to handle its fiscal deficit forward of the annual funds due round June.
Published On:
Mar 21, 2023
