SAHIWAL, Oct 31: Experience shows the IMF loan will worsen the already deteriorating economic conditions and bring more inflation and price hike for ordinary citizens, Federal Minister for Labour and Overseas Pakistanis Syed Khurshid Ahmed Shah said here on Friday.

Shah, who was on a brief visit to Sahiwal, said it was hard for the government to accept IMF conditions related to loan to address the financial crunch.

He said the government would explore all options, adding that it might get enough from Friends of Pakistan.

He said China was still Pakistan’s most trusted friend in this region.

The minister said that keeping in view the international financial crisis the Pakistani government was not in a position to reject any ‘offer’.

He dispelled the impression that China did not offer Pakistan any help.

He criticised the previous government for its ‘poor’ performance in terms of economy and said it would take two months to enter the ‘stabilisation phase’.

He criticised the decentralisation process introduced by the previous regime.