Pakistan finally got a loan of 7 billion dollars from the IMF but the conditions attached to it are difficult

Islamabad: Facing an unusual shortage of money, Pakistan has sought a loan from Saudi Arabia, but it has refused to give more loans because the old loan has not yet been repaid. Which they consider a friend of all seasons. China also raised its hands. After this, it was asking for a loan from the IMF for the last one year. The situation was such that its economy was about to collapse. At that time, finally the IMF promised to give them a loan of $ 7 billion in three installments in three years. So immediately the calamity is removed from it. But along with this, the conditions laid down by the IMF are very strict. They ordered to reduce military expenditure as well as administrative expenditure and to impose tax on almost everything except food. Also asked to increase the level and scope of income tax. Out of 24 crore people of Pakistan, only 50 lakh people pay income tax.

Basically, Pakistan has to raise a total of $46 billion for the financial year 2024-25, which is more than 40 percent compared to the previous financial year. The IMF says that due to this, inflation in Pakistan can be reduced. Right now inflation is out of control (37.5 percent) which has to be controlled. Along with this, the IMF has also decided to remove economic inequality.

The Pakistan government has said that the IMF loan amount will be used to help farmers and increase infrastructure. Privatization will also be improved. Companies that are most profitable will be given priority. Also, more subsidies will be given to special economic zones and agriculture and its supporting sectors. So that those sectors get a boost.

Shahbaz Sharif said that this will be the last loan in the history of Pakistan. But for this, the first thing he will have to do is to deal with the widespread corruption in the country. Along with this, there is also a need to bring transparency between the government and the officials. Economic reform is also inevitable. Economists say that if they do this, then the borrowed money will be considered to be used properly, only then will Pakistan's economic condition improve.