PML-N dubs IMF loan a proof of "failure" of PPP's economic policies

Islamabad, Nov 16 : The main Opposition party in Pakistan, the PML-N has said that the PPP-led federal government's approach to the IMF to borrow money was a proof of the "failure" of the economic plans of the Pakistan People's Party (PPP).

In a statement issued here on Saturday, PML-N's Information Secretary and MNA Ahsan Iqbal said that the PPP had earlier declared that it had "Plan A" and "Plan B" to revive the country's economy and the IMF would only be approached if both these plans failed.

Iqbal said now when the government had finally decided to approach the IMF, it should admit that its "plans had failed".

The PML-N office-bearer also said the amount being given by the IMF was a loan which would have to be paid by their next generations. He demanded that a special committee of the National Assembly be constituted to monitor the spending of the IMF loan amount so that the amount could not be spent to provide luxuries to the rulers.

He further said the decision also proved that Pakistan's image in the eyes of the friendly countries was not good which was evident from the fact that no one was ready to provide direct assistance to the country, and they had decided to provide financial help to Pakistan through the IMF so that they could keep an eye on the use of this amount.

He was of the view that if the government had agreed to tough IMF conditions against the interests of farmers and agriculture sector, the country's economy would be ruined.

The PML-N member asked the government to take the parliament into confidence about the conditions under which the IMF had agreed to grant the loan. "The conditions which the government had agreed with the IMF package should immediately be presented before the parliament," the Dawn quoted him as saying.

ANI