LAHORE: Prime Minister Shehbaz Sharif said on Sunday that if the government is unable to reach an agreement with the International Monetary Fund (IMF) for the bailout package before it expires on June 30, he will go to the public.
Addressing at the inauguration of the Sabzazar Sports Complex, Shehbaz remained confident about the accord with the global lender, claiming that his administration had met all of the conditions for the release of the IMF tranche.
“Pakistan has fulfilled all conditions and is hopeful that the agreement with the IMF will be signed during the current month,” Shehbaz stated. “If the IMF agreement is delayed, I will appeal to the people of Pakistan,” he said, without going into more information.
Many believe that the possibilities of reviving the existing $6.5 billion IMF programme have almost vanished, as it is set to expire on June 30. The IMF has not yet disbursed $2.6 billion of the $6.5 billion programme.
Shehbaz blamed the previous government for the current economic crisis, claiming that the PTI government violated the IMF agreement. “The PTI government was entirely focused on incarcerating the opposition,” he added.
The prime minister claimed that the “fascist regime of the PTI” that came to power as a result of “rigged 2018 elections” halted all development initiatives. “During the PTI’s four-year tenure, all Chinese projects were cancelled, and no development was made.”
Petrol costs had touched rock low during the coronavirus outbreak, according to Shehbaz, but the then-PTI government did not take advantage of the chance. The PTI government was entirely focused on driving its opponents up against the wall.
The prime minister claimed the impoverished man got caught in the inflation mill while highlighting actions presented in the 2018 budget. He stressed that the Russia-Ukraine war has increased the pricing of fuel products and other things.
He claimed that the inflation rate had risen so high that it was now impossible to make ends meet even with Rs50,000 per month earnings. “Despite the difficult economic situation, the government is trying to give relief to the salaried class,” he continued.
“We have increased government employees’ salaries by 35% for those in BPS 1-16 and 30% for those in BPS 17 and above,” he added. “In addition, the minimum wage has been raised from Rs25,000 to Rs32,000,” he stated.
The prime minister told the event that the May 9 violence was little short of an enemy attack. “In 75 years of the country’s history, nobody has ever attempted to attack army installations,” he stated.
“The law will be applied to those who attacked the Jinnah House at the request of the PTI chairman.” “Those involved in the [May 9] incidents will face exemplary punishments, so no one will dare to repeat such an incident,” he stated.
Shehbaz emphasised that economic stability could not be achieved without political stability, claiming that the Pakistan Muslim League-Nawaz (PML-N) will deliver both political and economic stability under the leadership of Nawaz Sharif.
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“Relax, Pakistan will be back on track of economic development under Nawaz Sharif, and I will continue to serve the nation until my last breath,” he ended.
Shehbaz recalled working tirelessly as Punjab’s chief minister to give contemporary sports facilities to the people, but the PTI government had abandoned these initiatives.
The Sabzazar Sports Complex is the first of 14 sports facilities planned during Shehbaz’s tenure as Chief Minister of Punjab. Sabzazar inhabitants will be given free admission to the sports complex, and bright students would also be offered free membership
Previously, the prime minister examined several areas of the sports complex and spoke with young athletes and schoolchildren. Mohsin Naqavi, the caretaker chief minister of Punjab, was also present.
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