Opposition MPs want details of IMF agreement

Opposition lawmakers in the National Assembly Tuesday demanded of the government to apprise the house of the terns and conditions of the recent IMF loan.

The House started discussion on a motion moved by Dr. Raja Aamer Zaman regarding terms of International Monetary Funds to get loan worth 5.3 billion dollars.

The mover said since the signing of the agreement‚ the value of rupee against dollar has decreased and the electricity tariff increased.

Taking part in the debate‚ Asad Umar said the real terms and conditions of the agreement with IMF need to be presented before the public.

He said around 1.2 million people are expected to become unemployed because of the terms and conditions of IMF agreement and by the end of current fiscal year‚ 5.5 percent inflation given by the previous government‚ will rise upto 12 percent. He said government printed notes worth 636 billion rupees.

Minister for State and Frontier Regions Lt General (Retd) Abdul Qadir Baloch said country is passing through difficult financial circumstances and a collective effort to overcome this challenge is the need of the hour instead of criticism.

He said government has no agenda to hide anything from the people and the terms and conditions of IMF agreement have already been published in the press. He assured the House that on return from foreign trip‚ Finance Minister Ishaq Dar will present the details of agreement before the House.

The Minister said at least for this fiscal year people must be prepared for difficult circumstances as the government exchequer is empty.

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Posted by Tahir Khan on Sep 17 2013. Filed under Business, National, Pakistan. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.