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Opposition demands NA approval for IMF bailout package

Opposition demands NA approval for IMF bailout package
May 13, 2019
ISLAMABAD (92 News) – The opposition parties on Monday demanded the approval of National Assembly for International Monetary Fund (IMF) bailout package. Addressing to the NA session, former prime minister Shahid Khaqan Abbasi expressed hope that Prime Minister Imran Khan will take the house into confidence over the government’s deal with the IMF and other national issues. The former prime minister urged the government to table the details of the agreement with IMF and the conditions of the lender in the house. Rejecting the government’s bailout package, PML-N leader Ahsan Iqbal said that the agreement with the IMF has forced to the billions of people for committing suicide. He also said that the finance adviser should present IMF agreement before the parliament. “We will not allow turns the parliament into the PTI club. If no one allowed to debate about bailout package in the house then we will come out into the roads,” he warned. PML-N spokesperson Marriyum Aurangzeb said that the prime minister has shown his ineligibility by handing over the country to IMF for only $6 billion. “The conditions for bailout package will bring poverty, inflation and unemployment,” she added. PPP leader Nafeesa Shah said that those claiming to bring change have only given inflation to the people. She said that Pakistan Tehreek-e-Insaf (PTI) government has reached a deal with IMF without taking anyone into confidence.
Pakistan, IMF reach agreement of bailout package: Hafeez Shaikh
A day earlier, Adviser to Prime Minister on Finance Dr Abdul Hafeez Shaikh announced on Sunday that Pakistan and the International Monetary Fund (IMF) have reached an agreement of the bailout package. In an interview with state-run television channel, the adviser said that Pakistan and IMF has reached an agreement on a $ 6 billion bailout package. Abdul Hafeez Shaikh also said that the bailout package will be given within 39 months time. He also explained that the federal government approved the bailout package, however, now the IMF board will have to give the approval. “Pakistan is awaiting the decision of IMF, he added. The adviser mentioned that the positive message would be prevailed worldwide and other financial institution will also provide two to three billion dollars. He also announced that this bailout package of Pakistan would be final package with the IMF. “The removal of subsidy to the rich people will prove in the country’s interest,” he said. Abdul Hafeez also said that the amount for the Ehsas Programme would be doubled as 180 billion rupees. He said that 75 per cent electricity consumers of the country utilized less than 300 units, however, they will not be loaded the burden of hike in prices of electricity. The adviser further said that the administrative reformations will have to be implemented for the long-term progress and prosperity of the country. “If the subsidy will remove for the rich people than it will be proved in better interest of the country,” he said