Pakistan is facing acute economic crisis as the foreign currency reserves have fallen to less than $3 billion. It is extremely important for Pakistan to seal a deal with the IMF for more money from a $6.5 billion programme. The Islamic republic needs funds to unlock more aid and avert a default.
Pakistani prime minister Shehbaz Sharif has claimed that an anonymous Pakistani national walked into the Turkish embassy in the United States and donated $30 million for Turkey-Syria earthquake victims.
“Deeply moved by the example of an anonymous Pakistani who walked into Turkish embassy in the US & donated $30 million for earthquake victims in Türkiye & Syria. These are such glorious acts of philanthropy that enable humanity to triumph over the seemingly insurmountable odds”, Sharif tweeted.
However, Pakistani journalists were quipped why did the anonymous donor walk into the Pakistan embassy to bail out the country which is facing acute economic crisis.
“Interesting that this philanthropist didn’t quietly walk into a Pakistani embassy and denote this money for flood relief. Wonder why?”, author Ayesha Siddiqa tweeted.
Pakistani journalist Ihtisham ul Haq tweeted,”Lol, instead ask yourself a question that why he didn’t walk to the Pakistani embassy.”
Islamabad and the International Monetary Fund have pledged to continue loan negotiations after they failed to reach a deal during the global lender’s visit. It is extremely important for Pakistan to seal a deal with the IMF for more money from a $6.5 billion programme. The Islamic republic needs funds to unlock more aid, avert a default and replenish foreign currency reserves which have fallen to less than $3 billion.
Strengthening Pakistan’s financial position with revenue measures, reduction in untargeted subsidies and allowing exchange rate to be market-determined are the priorities of the IMF at the moment.
The agency also seeks to ensure the viability of the energy sector, though Pakistani authorities have ruled out increasing electricity prices this week and resisted raising gas prices for months.
