According to Dawn, the Pakistani government is maintaining a brave face despite the stalemate over obtaining IMF assistance required to stop a possible national collapse.
A proposal Memorandum of Economic and Fiscal Policies (MEFP) should have been shared with the authorities at least a day before the scheduled conclusion of talks on February 9 if a clear roadmap on external financing and domestic budgetary steps, along with significant energy cost adjustments, had been provided.
According to a report, a senior government official stated, “As of Wednesday night, we have not received the draught MEFP. He stated that there were still concerns about the ultimate strategy, both in terms of budgetary measures and outside financial sources.
The IMF estimates a shortfall of more than USD 6 billion for the current fiscal year.
According to Minister of State for Finance and Revenue Aisha Ghaus Pasha, stated by Dawn, “We are extremely close to the finalisation.”
According to US-based NGO Human Rights Watch (HRW), the International Monetary Fund (IMF) should collaborate with the government of Islamabad to increase social protection and lessen harm to the most disadvantaged by advancing economic rights.
According to HRW, the IMF should collaborate with the Pakistani government by extending safety nets and limiting reform initiatives that run the risk of endangering the most vulnerable citizens.
Due to its extreme poverty, inflation, and unemployment, Pakistan is currently experiencing worst economic crises. According to a statement from HRW, it has put millions of people’s lives, food security, and health at risk.
According to Dawn, Pakistan’s discussions with the IMF are intended to resolve the IMF’s ninth review of its Extended Fund Facility and open the door to the delivery of a USD 1.1 billion tranche.
According to HRW, the influx would reduce the dire need for foreign currency and open doors to other sources of support, such as those from multilateral and bilateral donors, which are promoting human rights all over the world.
According to Dawn, Patricia Gossman, associate Asia director at Human Rights Watch, “Millions of Pakistanis have been forced into poverty and denied their core social and economic rights.” Italics in original.