December 14, 2006	Thursday	Ziqa'ad 22, 1427

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ISLAMABAD, Dec 13: Opposition senators on Wednesday submitted an adjournment motion to the Senate Secretariat seeking debate on a report that the International Monetary Fund (IMF) had sought hike in power rates and devaluation of Pakistani currency.

ARD parliamentary secretary Izhar Amrohvi told Dawn that the motion had been signed by seven senators belonging to the People’s Party Parliamentarians (PPP), Pakistan Muslim League-Nawaz (PML-N), Awami National Party (ANP) and Muttahida Majlis-i-Amal (MMA) under Rule 74 of the Rules of Procedure and Conduct of Business in the Senate.

The motion states that it has been reported in the press that the IMF had sought 10 per cent devaluation in Pakistan currency and hike in power rates. “The IMF has expressed concern over Pakistan’s larger current account deficit working warning that future widening could compromise external debt sustainability.”

It states that the IMF has suggested a 10 per cent devaluation of the rupee to narrow down the deficit to a level that stabilises the net foreign assets to GDP ratio at the level of 2004. “The report of the IMF shows that the claim of the government regarding the economy is against the reality of facts.”

According to Mr Amrohvi, the opposition senators have also submitted an adjournment motion seeking discussion on a news report that a key official of the National Reconstruction Bureau (NRB) has resigned accusing chairman Daniyal Aziz of “exerting pressure to disburse an overwhelming bulk of available funds to his home constituency in Shikargarh.”

The motions have been signed by Opposition Leader Raza Rabbani, Dr Safdar Abbasi, Enver Baig, Rukhsana Zuberi, Dr Babar Awan and Farooq Naek of the PPP, Ishaq Dar and Sadia Abbasi of the PML-N, Asfandyar Wali of the ANP and Prof Khurshid Ahmed of the MMA.