Congratulations means new 20 billion loans

Destination is not going to change ,whoever seated at helm

Congratulations...what an achievement!!

I knew it from the day one that it is going to happen but PTI was probably playing games with the public. Now they know it is easy to stand on the container and lambast the gov but the reality is hard when you are in gov.

That's interesting..!! If that was the case then why they wasted 6 weeks where forex reserves fell from 16 billion to 6 billion....they would have been in better position to negotiate with imf....now on the verge of collapse they will have to listen to each and every thing they say. Tough day ahead for pm Imran and pakistani population...brace for impact..!!

This was inevitable and part of the debt trap Pakistan has fallen into. We must look to put an end to corruption once and for all. Those who have looted our motherland should be brought to justice and made accountable. Our economy has a lot of potential and with the right policies, the economy can grow leaps and bounds in quick time. This new loan can even be prepaid if the overnment can live up to half the promises they made before coming into power. Good luck Khan sb, Asad Umar and the team. Long live Pakistan!

This is what happens when you divert your focus into the issues which are not aligned to the development of the country. Better late than never.. Build solid foundation on solid values (your own) and grow.. Don’t trust China or anyone... Prosperous and stable Pakistan is in the interest of India.. Good Luck!!

What remains to be seen is how much they take in the form of loans and repayment of loans. So much for a lot of things that were promised and stated - pertaining to alternate sources of credit.

It was inevitable however unnecessary delay have already inflicted loss of investor confidence

Finally govt of PTI realised, what the previous govt was doing was absolutely right and correct

Surprisingly he has a face to announce this after all those big talks!!

Good going better sooner then later charge it to sharif ,& zardari's dynastic politacal plundering of our beloved country.

Naya Pakistan with old approach to resolve issues. What happened to 100 days plan?

So finally inevitable comes as per prediction.. so now govt has to plan economic policy as per wishes of IMF. so nither economic nor foreign policy of nation in present govt hands. Bumpy roads ahead.

It is good that the government took time and consulted all the stakeholders to finally aporoach IMF.Regret that the past government specially our Ex Finance minister Mr Dar is responsible and must be taken to task for leading this deplorable crisis.

Was there any doubt about it?

What other choice was there?

What price freedom?

People should be educated why this loan was necessary and IMF is not an occupying force. And its not because of CPEC loans that we have to go for it again. In fact CPEC payments constitute only 10 percent of the amount to be paid. Other are loans from multilateral institutes like WB and ADB that we have to way. Further we reach this position every 5 years is because incumbent governments overspend in their final years. Neglecting what effects it will have on economy and only eying on winning the premier seat. And I hope PTI dose not repeat the same mistake and we can see a wealthy and prosperous Pakistan in near future.

Please don’t treat headache or fever with analgesic tablet. The infection is corruption deep inside body, all phlegm (corruption money) be sucked out using Suction Appratus, ( FIA+NAB). Pak will feel well again.

Better late than never. A correct decision forthcoming after much hesitation mainly to avert expected political fallout in coming by election scheduled for October 14. Having put its back to the solid wall after exhaustion of all other options, this belated decision has already cost the country dearly. The fiscal & current account deficit touching 6,8% of GDP, is not very pleasant happening and to sudden fall of 830 points in the stock market index, is surly a cause of sending shivers to those advocating delaying decision of going to IMF for a bailout package of $12B. Notwithstanding the cosmetic changes made in the revise budget proposal, the real test starts now. Acceptance of IMF conditionalities -free float of rupee, periodical tariff hikes in gas/ electricity, increase in interest rate, tax reforms, disinvestment in loosing public enterprises, sever cuts in consumption based economy by slashing imports, besides structural and institutional changes, are going to hurt PTI base badly

But you were supposed to make the announcement after the by elections

@Imran, Here's a little common sense way of looking at it, the new government was blind sided by the actual financial hole the country was in, and that took weeks to find out, but they had to figure without having to take a big loan, they tried, but couldn't. Next best thing is to go ahead and talk to IMF, by the way, whether you talk to IMF today or next month, you will have to listen to them, as you put it. you think they'll loan you billions without uttering a word? Blaming a new government to take up a loan, previous governments took loans after loans, and walked right into the sunset, and no one said a word for years.

@Yub - "Congratulations means new 20 billion loans"

Do you have a solution, Mr Economist, when the economy is in dire straits?

@M1 Jamal - Correct factual assessment. The others are taking gratification inanely as though there was nothing wrong done by the previous lot!

@Imran in which time zone reserves were 16 billion dear?

why It took so much time in understanding by new govt. that this is the only option remain, this just is like trial & error governance.

Easily the most incompetant FM pakistan has ever seen

The help for the Saudis is not forthcoming hence this IMF route.

Naya Pakistan at its finest! PTI has failed quickly!

@Orakzai Nope! Previous government was looting and plundering national wealth.

Why this government did so much extraordinary promises that could not be fulfilled? This government is happened to have spontaneous announcements without mucb analysis... The news is dishearted and contradictory to the promise made by the government .

As usual, this new government has nothing creative to say or do- they can only blame the previous PML-N government and beg for more IMF loans like all regimes of the past. Total failures so far.

Going to the IMF means disclosing the details of all CPEC transactions to IMF & all its member countries.

@Fi these steps are necessary to address economic instability in the long run things will be better

You had to be blind to not see this coming.

Where is the information mister... We will bring the looted money.... nearly he made 20 statements and back tracked on all of them.

This Gov has 5 years to proof... why there is a hurry to give wrong projects... this only dent he image for the Gov. Is there something we are missing... Dawn can throw some light on this... Whats the hurry in announcing people friendly statements knowingly they have to backtrack....

Just came to know 300 Billion wroth of government land is sitting ideal... what kind of twitte was that...

Nothing to be surprised. Inevitable was bound to happen. The only surprise is that why it took Finance Minister and government so long that IMF should be approached for financing. Delaying tactics in approaching IMF badly affected stock market. Moreover there was situation of uncertainty in the country. I am small student of Finance and have quite clarity that availing loan from IMF in addition to building your reserves also enhances credibility of the country. Many other institutions and lending agencies also consider you capable to pay off your loan and hence come forward to give you loan. But delay in approaching IMF has badly exposed the decision making capabilities of this government.

@Mahen - What makes you think time is of essence in taking loans - earlier the better???

Purana pakistan is back..

But they iterated a million times we won’t go to IMF. Isn’t?

4 rupees per unit electricity price hike, gas price petrol prices rise rupee devaluation etc such are IMF gifts we poor nation will get totally free.

Pti is going to cash only hope available.

The loans of country are the vilest thing that can happen to a country, because these loans always have a lot of geopolitical strings attached to them. Let us see as how the government deals with this difficulty.

U turn of the century ladies and gentlemen. Yes they are being rated now.

@Fantacy. Destination change for those who want change for themselves. It doesn’t change automatically. People don’t want to pay taxes and then demand change, this is not how it works.

Once you do the homework, then you take decisions. Hopefully, it will help Pakistan come out of the dismal situation it is in today, thanks to the 10 years rule of incompetent governments of PPP and PML-N.

Soon ordinary Pakistani's will know the inner workings of CPEC deal. I have a suspicion that the Chinese will bail out Pakistan before that happens.

I am not surprised. I only wish that Asad Omar should have been honest from the beginning. Until recently, he had been denying that government will need IMF bail out.

what the US is going to say now?

Be careful, this time no guarantee that loan will be granted.

@Ibrar Malik here is a link to dawn article on july 20...which clearly mentions that reserves were 15.862 billion.. https://www.dawn.com/news/1421258

Yet another u-turn!

Obviously, every political party comes to power to play with lot of money. Politics is a business.

PTI is just a time pass government . So pass the time while they do the bidding that they are supposed to. rest is just a movie. I will do this and I will do that.

100 days achievement,

That is OK and expected, you just can't fix the financial mess that was created in decades.

@Fantacy you are incorrect. Mess that was created in decades can't be fixed in a month. Give them few years. You will see.

As an Indian American, I am usually dismayed by the policies undertaken by the Pakistani govt. whether to address economic political or foreign issues. But this seems the right path. Imran K. seems to have deliberated and willing to take the strong medicine. Best of luck!

Finally stopped IMF bashing? Didn't IMF asked you to disclose CPEC loan details?

Better IMF than China. This program will be tough but will get Pakistan back on track. All the best.

@Fi What is your suggestion should government do?

@Fi you need to get your facts correct. Pml-n & PPP are responsible for the crises not PTI

All of this is happening due to the current account deficit and surely PPP & PML-N governments are responsible for this.

Those who are saying that if the issue had been taken a month back it would be easier by then. I think we are being naive here, as if IMF was not aware whats gonna happen. The problem is we need to look and see why we wasted about $3 billion or $2.5 on a mass transit project or should I say white elephant in Lahore.

I am not a big fan of IMF and yes PTI is not the pinnacle of all ill of Pakistan(as they claim) but I will see how would they perform.Will they borrow brainlessly or its going to be one such kind of borrowing

@Ibrar Malik Reserves crossed more than 20 Billion USD once during the reign of PMLN. Kindly check and then comment here. When PTI got power then the reserves were already more than 15 Billion US Dollars. May be you are confusing the government held vs private banks reserves. The total reserves are the sum of these two.

@Nitin Agreed with solid foundation. However, China has been always there when we needed them and have been tested many time. They earned our Trust. I really think we finally have the right person in the office and things won't get changed in a month, give him couple of years and then we will talk.

Just goes to show the extent to which the predecessors screwed the nations accounts up.

@Pathanoo The other choices are Saudi Arabia and China.

I don't mind if you take loans. I want to see what you folks do with them.

Take a sizeable amount lest you need to go back to them in a few months.

Reading through these comments makes one realise the polarisation of society, and how so few have any idea about the real economic issues faced by the PTI govt. In a country of 220 mil, there must be 100+ million adults, and some 25 odd millions middle and upper class. Yet, only 0.7 million pay tax, 0.5 million of which pay it through their salary. Greeks thought money grows on trees, didn't pay taxes, and it has taken them 10 years to barely get back on their feet. Spanish regions spent blindly on public project, none of which produced any money, and they are still suffering. In Pakistan, hardly anyone pays taxes, the previous govt took loans and spent on metros and motorways, like there is no tomorrow. Unless PTI can make unpopular decisions, Pakistan has only another few months.

It would be great if Dawn could do a survey to see how many opponents of austerity and tough measures actually pay taxes.

Where is that economic advisory unit they setup.

They were just waiting for looting Money but it's not possible to collect in 60 day there is no another option IMF because economically difficulties increase day by day

Dear Asad, Declare the financial requirment to run Pakistan and lets try to run Pakistan without IMF and with our Friends

Let’s see how good of deal PTI cuts with IMF after blaming PML-N for bad deals with China on CPEC projects.

Salam Sir: Well understood and as a finance professional, I don't think we had a way out other than this. All the previous governments, when they went to IMF said the same thing i.e. past government left the economy in the mess. Let us hope that this is the last time we hear from our Leaders, and in the time to come NO government will be able to use the words! To me it would be pertinent to acknowledge, at this stage, that economic woes are contributed by other than the government of the day i.e. those who decide to go on roads to unseat an elected government!

If We go to IMF they will bail us out for sure? Is it Sure? US was saying something about not using this money for CPEC Loan interest payments. Can they say No?

So I don't get it. On the one hand, it is claimed that Pakistan's economy is fast growing - 4.5% or something. Yet, the country is spending more than it is making. How can you be growing if you are making a loss?

so much for we don't need IMF !

After all the chest thumping, back to square one.

Trump will block IMF through lobbying. Most of IMF funding comes from US tax payers.

The reason for this situation is not that the previous Govt. was corrupt but Govts. before Nawaz Sharif had short term policies and wanted only quick fixes. Both Musharraf and Zardari are the ones at fault. Nawaz Sharif on the other hand took the bold decision to implement CPEC, which will be good for Pakistan in the long term. Until then you have to buckle up and spend very carefully.

It means the corrupt are free.

@Harmony-1© I am NOT an economist but I DO have a solution. Look at our budget, look at the top head of expenditure. Cut that into half. All our worries are over. But who will bell the tiger?

unfortunately the current govt is incompetent.

@Usman Pls dont try to sound clever, investor confidence precipitates as fast as it evaporates

What happened to PTI, they are repeating same pattern like previous govt. PML-N got loan after they blamed PPP for corruption. Now they are blaming PML-N. Why they don't go after corrupt people. If they ask anybody who live in big houses in Defence/Clifton/Baharia town and ask them how they get the money and pay the fines and taxes. They don't need to go to IMF Because they will collect enough revenue. I know a doctor couple who are sending their Pakistan national son to private Medical school in England. It is has fee more than 75,000 pound a year. Nobody pay taxes in Pakistan. People don't understand that nobody is interested to give us money and we need to generate our own money. IMF will ask to devalue our currency which is already low. Currently 20 Indian Rupee is equal to 1 ryal, 23 Bangladesh taka is equal and 35 pak rupee equal to 1 ryal. We need to do something otherwise we will end like Zimbabwe.

This government continuously puts itself in a situation where it has to take U-turn.

@Dr. Salaria, Aamir Ahmad ... thank you for saying this. This was expected as the new finance minister does not have the skills to turn the economy down

This requirement is imminent, at least for the next two years. Immediate measure required are, 1. Save unnecessary expenditure. 2. Broad the tax base, Income tax base. 3. Minimize FBR staff involvement in public, because general public is extremely scared with FBR people and their way of dealing. Facilitate investor for small industries. Re start closed industries by appointing new energetic, qualified staff, like in Pakistan Steel, Shipyard, PIA, Make all current staff to OSD and then retired them. Invite foreign qualified personnel and appoint them in different industries according to qualification.

Wrong assumptions lead elsewhere.

@Fi what do you expect really? Miracle to get rid of all this mess? This is the result of the last government and not IK

What a great decision. Even a man on the street knew this is inevitable.

The question which bothers people is that why this was not done earlier which would have saved a lot of crisis.

What happened to those boastful talks of Imran that he will never knock at the doors of IMF? He is the worst PM Pakistan ever had, with zero credibility.

@Yub who is to be blamed the previous so called democratic governments with hell lot of corrupts political elites.

Unfortunately, such a bailout became inevitable when the so-called friends looked the other way.

@Fi you know nothing this is all due to Zardari and Nawaz who looted the money and has built there palaces in London and in Dubai.

just in 40 days you failed with your promise

people should have realized there was never a bunny in the hat to begin with. it was the inevitable. it's not fair to just blame the previous government. this economic mess is an accumulation of decades of inefficiencies, instability, corruption, overspending and widening deficit, in which all governing political parties and institutes had a equal share of blame.

I have mentioned multiple times on these pages more than a year ago that Pakistan will be going to IMF right after elections, whoever makes government and that has come true. Now listen another new prediction that Pakistan will be going to IMF again right after next elections whenever it happens (not necessarily after 5 years but it can happen early too).

Those who are appreciating this step of taking loan should first read the book "Confessions of an Economic Hitman" to know how systematically and strategically IMF kills the economy and prosperity of a country that take loans.!!!

@Junaid Maniya how come paying taxes in PKR will increase ur forex reservers?

@Khalid accountability is one solution , scraping corrupt policy and sentencing powerful behind these is required

The same old music with new jockey players.

That is the result of poor vision and direction for the country. Imran Khan, Asad Umar or Fawad Chaudhry are not Prime Minister or minster product but mna and mpa's.

Lower class has nothing to lose as they have nothing left Upper class has too much .the only class will suffer is the middle class which will destroy the economy more

@Concerned Citizen ...Loan is loan, does not matter the source or the interest rate.

@Orakzai What borrowing billions to send abroad

@Dr. Salaria, Aamir Ahmad Who left the country in this desperate state?

@Dost Let's see how public respond in by elections???

@Orakzai Do you understand the difference or just commenting to show ignorance.

Thank you nawaz and zardari. PTI tried to avoid but ofcourse you can’t donsnythung in short term .

ZA Bhutto once said, we will eat grass but will acquire nuclear weapons. His prophecy came true for both.

@Orakzai Previous governments did not do anything except enrich themselves. PTI will certainly show in the next few years that Pakistan has more internal economic strength that needs be energized, tapped and with no corruption at the top this will make a big difference. Just wait and watch what happens next that will shake and move the internal engine of the economy through trained, working manpower and resolution to do better.

What happened to game changer CPEC?

what about 200 billion $ IK promised to bring back ?

Pakistanis often complain about leaders siphoned money to foreign accounts...what’s the amount of money they could have done? There is a bigger financial failure than that...and nobody talks about it...☹️

@Imran where did you get that number? Right now fx reserve stands at around 14.5 B if you combine SBP and commercial banks' reserve, SBP stands at 8.5 B....when PTI came to power combined fx was 16.5 B something and SBP had just over 10.5 B...so deficit is just around 2 B since PTI came. Frankly this difference doesn't make much difference when you are already exposed to the world..at least now they have exhausted other options

Bring back the looted wealth that you claimed that you'll bring back in the first few weeks of your govt. Where are the alleged billions of corruption dollars that you promised to bring back? Why don't I hear Imran Khan speak to the public about what our future holds? Is he turtling in? We'll take less offence to austerity measures as long as you hold your end of the bargain. Until then, you're letting us down. I'll decide 3 years from now whether I'm voting for Imran again or not. I hope that I decide to vote for him again. That would mean that Pakistan is on the right track.

@Alla Bux : Isn’t it amazing? 105 comments and nobody other than you has thought of the tiger? All the comments on taxes, PML-N initiated highways and metros, corruption. But, to paraphrase you “no bell on the tiger” would mean more of the same!

Do Mr Asad, all unplesant measures have to be taken to get out of this horrendous situation padt government left us with. Once out, we will ensure future we are in surplus.

No serious attempts to austerity was made in last 100 days or so. 1. The size of the cabinent is getting larger by the day. There are now 38 ministes, exclusindg special assistants and advisors (2) Foreign Minister flew to Kabul on a special plane. (3) FM stayed 15 days in USA. SuggestionsL 1. Downgrade all the embassies, get rid of the ambassadors (2) NO travelling allowance for the employee of any kind. period. 3. No travel by plane, use railways (4) Increase the office times to one hour to increase productivity. Overstaffing is menace, get rid of the excessive employees. 5. Increase the indirect taxes, and tax recovery system. All those fat income tax employees go to public, remove the fear from business community, do tax training classes and educate about tax system and payment. No increase in their salary if they don't bring additional taxes. However, educate the business community.

Atlast

We should invest part of the money in CPEC and not let it compromise the projects in anyway

@Orakzai Previous government was doing correct? RiP common sence!

Great move by PTI and excellent diplomacy by PMIK. The debt is due to PML-N.

Nothing bad to take loans, even western developed nations have bad loans too, some even have 100% to their GDPs. But any government should calculate the benefits before bringing more burden to people, as big chunks of them go to corruption and bailout some government run entities.

and with that money you repay Chinese loans. by the way USA is the biggest contributor of IMF. and now where are those who said they don't need USA help anymore?

Every promised made to win the election was made to be broken. PTI is laughing at people mandates.

To the critics I have just two points:

1. Where were you when mega loans were taken by previous governments?

2. Why did you vote for parties whose members are now under criminal investigation?

They have no ideas how to run Government, how to keep their promises, they just made fool the public and themself, Pakistani peoples have no clew where this Government will lead them into, Country economy is crashing and poor peoples are even more deeply buried with higher prices because of this Government. It will be better if this Government just resign to stop the further damage to this country.

Where is U-turn khan who was claiming to convert Pakistan into Medina Welfare Islamic State? Will he be ashamed of imposing a huge increase in gas and Electricity bills?

@Ahmed Abdul Rehman “Those who are appreciating this step of taking loan should first read the book "Confessions of an Economic Hitman" to know how systematically and strategically IMF kills the economy and prosperity of a country that take loans.!!!”

Or they can look at how deep structural reforms following 1991 IMF loan by India turned around Indian economy. Thailand and South Korea too benefited in the 1990s by an IMF loan. The reason for the repeated boom bust cycle for Pakistan is that they do not implement the necessary structural reforms and US has been rescued them from the need to do so until now. Expect much tougher conditionality now.

PTI need to pass a law in Assembly taking limited loan by any Government in future.

By that limit, out going Government cannot bankrupt the County and leave.

Irresponsible Politicians?

@KB “So I don't get it. On the one hand, it is claimed that Pakistan's economy is fast growing - 4.5% or something. Yet, the country is spending more than it is making. How can you be growing if you are making a loss?”

If your growth is based on investing more than national saving, of government budget being more than taxes it collects, of importing and consuming more than Pakistan exports - you can have fiscal deficit, current account deficit and falling reserves despite a growing economy.

@Harmony-1© “What makes you think time is of essence in taking loans - earlier the better???”

It is not about earlier the better. But more timely the better. Once situation worsens beyond a point, the conditionalities get much tougher - because lender has to protect themselves.

What people do not understand is that when a person or Government moves to become honest, they have to suffer lot of short coming. The current situation is no different the Government is taking an honest approach for a better tomorrow maybe not for us but it will definetly be for our children and grand children. So live with little bit of hardship for a better tomorrow.

To those who say what was the option - the answer is there was none. But PTI government knew before elections that there was no option but made tall claims and that was wrong. While there may have been corruption, the primary reason for the problem is not corruption but Pakistan living beyond its means. It invests more than it saves and imports more than it exports. Hence forex reserves problem are a recurring feature.

@LAHORI KID why was the government blindsided? SBP was publishing the reserves in a weekly basis and the emergency loans that prior government had to take was also known. Similarly the increasing current account deficit and trade deficit were regularly being reported. When PML-N published its budget in April, it was clear that there was going to be a shortfall in revenues and hence a large fiscal deficit.

No problem Mr Umar the nation is behind you Honorable Finance Minister. I'm a Pakistani we are with you, most comments here are not from Pakistani Nationals ;) Most Indians are good people min those who comment here with nothing but neg things about my beloved Pakistan which they have never seen or visited apart from TV or news paper.

All due to Nawaz/Zardari mafias.

Money is what money can do.

IMF bail was the only option left for Khan. Previous corrput Goverment put Pakistan in a difficult position. Only man who can put Pakistan in a wealthy position is Khan. It has to start of with a bailout debt. Then Khans Goverment will come up with economy, buissness ideas which will benefit the country. People will think 10x about money laundering, fearing the Law in couple of years time. Pakistan being in this position will be tough for every new loyal leadership. If Gwadars CPEC is successful and Load-shedding, water crises over then country will get the boost of its lifetime. Pakistan has the potential to become Asia's Singapore.

Renegotiate all debts with China before going to IMF because: 1. IMF is not going to like that most of what it gives to Pakistan quickly ends up into China's pockets. 2. So many CPEC deals were signed by Sharifs without proper due diligence and any negotiations to protect Pakistan. They are so one sided - all in China's favor. Charging interest at over 20% and guaranteeing similarly high profits. Unless fixed now, these deals will bond at least two generations of Pakistani children to China. Get t tough now.and get manageable terms on everything. Other CPEC countries are doing same.

Do not destroy your children's future!

At last the PTI cat is out of the hat. Where are the Saudi and Chinese money? All propaganda!

@A Patriotic National Very true.

@Syed Prove it. Now PTI is in power. It is not easy to smuggle out billions of dollars through hundi.

@Daar Beurocrates are much more powerful than politicians in our country!

Isn’t CPEC delivering the dividend yet?

Imran Khan got into power by hook and crook and now realizing that it is not easy to ride the lion.

Congratulations to FM. Mr. Qureshi for securing an NOC from Mr. Pompeo.Great work indeed.As far as the PM he is going to tone down his anti US rhetoric.

No fix the problem get rid off all subsidy; give people real shock treatment. Lock up all crooks who own properties without any tax record or auction it out to general public with tax record. This will end all corruption in Pakistan.

No wonder IK is very quiet and big talk has disappeared.

@RS . It’s amazing an Indian American think so good about Pak, perhaps the rulers in Delhi may also think so.

@bajwa what did Dar gave Pakistan. Nothing but what we are suffering right now. Because of bad policies of bad government that led to corruption and tax evasion, we are at point that where IMF may not loan. Sharifs and PMLN cronies wanted to play with high interest loans from China and that would have been even worse. With IMF you can get better interest rate and you have an option now to collect taxes, improve investment nd above all kill corruption that was eating from inside like a termite. Opposition should get real rather than look for petty excuses to criticize.

@Imran Best politician are those who keep his ears and eyes wide open but KEEP mouth shut. But Imran has kept his mouth open and shut his eyes and ears close

@Imran Agree but I think he even today does not know how to manage any thing. He was a cricket captain, a party head and has done well in this. But every thing else he has not has even minimum required experience. He is a failure in his personal life as well as a politician. He is a good person but a very bad politician and that is not good for the country.

@Shah . Unfortunately the election system is not free, fair, and transparent to that sense that peasants, poor, the farmers, the labor at industries, are bonded labors, slaves on huge lands of feudals, their brain can’t think to caste vote at their free will, like flesh robots they vote their masters. Hence the same feudal class or their sons comes again as legislators.

@Nitin Great advise and I fully agree with you.

@Nimbus You have guts to say after what happened?

@AXH current govt is using bad decisions of them to run their own

Another U turn

Every one knows that the real mess is the creation of PPP & PMLN Governments. Yes, PTI made the biggest mistake of making promises that were not so easy to be fulfilled in a short time.

@Najum you are right and why shouldn't he

@KB who said it was growing?

@Nasir China has earned your trust? it has destroyed local business and has flooded your markets with Chinese goods they are not there for social work but to make a profit for themselves

@sweedish US has major influence in IMF and major IMF money comes from US Tax payers they have every right to say whatever they want to

@Yub you are right more loans to barely survive.

Can I have my $1000.00 refunded please Mr. Asad Umar. Thank you

@Fi friend you are terribly confused about the state of the country left by previous governments!

So they increased utilities prices so that they dont have to go to IMF. Then they go to IMF for double the amount as compared to last govt. What smartness!

Whats different ! Pml n said dame about ppp govt ! Weak governments dont want to put own house in order by taking simple decisions like stopping unnecessary imports and cutting unnecessary expenditures running into billions of dollars. Debt trap never rectify the basic problems becuase then govt knows that my term will be passed by this debt. Expected decision from incompetent and loud mouth pti.

Dear all Prime Minister Imran Khan did said in past not going to IMF etc , however few things we cannot decline is Imran is putting interest of Pakistan First.

So he is not going to China or other Gulf nations for Loan which have not so favorable terms as to IMF. With IMF the country's sovereignty is not going to compromised where as with loan from China it will.

Also as Imran and his team is not corrupt so new loan will definitely flow through to economy and will not be going to any individual.

Yes there are some mistakes made by Imran in election, however what is final outcome is more important for people of Pakistan

So we should not judge him so early and let things move

Best wishes to all

1.) Identify all “sifarshi” recruitment and terminate their employment 2.) End all subsidies for Lahore, Rawalpindi, Multan metros, if Peshawar metro needs subsidy then end the subsidy for that as well. 3.) Punish electricity, gas and water thieves. 4.) Institute higher fees for NICOP cards, have them renew ever 4 or 5 years

PM IK tried all options but the only choice at this time is to approach IMF. There is no way out to the crisis. It was expected and see how IK will counter significant economic challenges.

@Amna I disagree. What to do with FM here? Do you ABC of politics?

U-Turn Khan is the savior of Pakistan!

@Kashif no choice because pmln and ppp gouvernement

Please give PTI another 3 months. It is going to be OK.

Please give PTI another 3 months.

Imran Khan Dharnas in Islamabad paralyzed and cripple the government. The result was massive transfer of assets by the rich and corrupts to overseas. NOw Imran Khan has to pay for it

New PM showing his true colours, how much he desperately wants to play and make money quickly on expense of poor people like previous Govts

Imran eating own words.

@JagoPakistan Economic advisory unit was killed under religious pressure. Another U turn by PTI on IMF bail out policy, declared in election promises.

Mukesh Ambani's personal wealth $ 40.2 billion.

Well it's never too late. The same was being done by the previous governments without having their economic councils committes or think tanks having superior minds. However, if possible, the responsible heads or factors of present mess must be punished in some way or the other.

Those people who went away said that we do not need IMF.

The economic mess is too old, blaming the previous govt is like puting dust in the eyes of poor populace. PTI govt should apoligize for its fake hopes they put in the minds of Pakistanis before election. Which are now being bombarded with heavy taxes and bills.

In this world of twisted ideas,getting heavy-loans such as CPEC, IMF seen game-changer. When you going to have local savings/investments lead growth.

Thank You Nawaz Sharif and Ishaq Dars. What use is the motorways for us now?

@Ashraf Gilani (Kashmir, India) So on the basis of 7 weeks of PTI’s performance you were able to come to the conclusion that Imran Khan’s PTI Government is the worst in the history of Pakistan. What a joke . Come on ! Wake up and focus your attention on your own internal problems instead of poking your nose in the affairs of Pakistan.

@Mukul What about the high volume of sale of Chinese goods in Indian market. Can you provide statistics to support the concept of ‘ balance trade ‘ related to India.

PTI should not have build up hopes so high that it feels like a failure when they opt for some conventional tool. The "New Pakistan" till now seems little different from the "old Pakistan".

Anyhow, lets see how the conventional IMF program works which, unsurprisingly, only devastated economic circumstances in the poor developing countries.

Finally pakistan open eyes...

Mr IK had promise previously that he will not seek IMF (loan). IMF loans come with conditions. I believe preovious loans cndotions have undermined Pakistan's culture and economy. I hope govt is successfull in raisong funds from friendly countries janother before IMF loans is finalized.

Thank you PML-N and PPP !

PTI tried it's best to get us out of the debt trap created by these two 'experienced' parties but unfortunately they have done so much damage and got us down so far in to the drain that the efforts by an infant PTI government were not enough. Hopefully this would be the last time we go to the IMF. As long as these funds are put to proper use and not in PPP and PML-N pockets we should get atleast some semblance of a functioning economy. The looted wealth should be got back from these plunderers and looters on a priority basis or exemplary punishment given to these goons that they become an example for others!

@Imran Perhaps it is better that way. Listen to IMF carefully and do the reforms required. Only then the nation can hope to be out of doldrums in about two years time, optimistically talking. The economic trouble is very deep rooted because of reckless loan taking at exorbitant rates not knowing if the expenses incurred could be compensated by economic gains later. Also reckless defence spending needs to be reigned in as most there developmental expenses. Hard decisions are to be made especially as FATF sanctions also loom on the horizon. Only then one can hope of seeing the silver lining in the horizon.

I have a silly doubt here. Many are commenting that no body pays taxes in India. Though it is also common in India, generally tax evaders are Business community. All the salaried people shall pay the tax as the tax being deducted by the employer before paying salary (Tax Deduction at Source). Government also over a period of time made stringent conditions that now even the most of the business community is also paying tax, may be not full amount, some part portion by not showing proper accounts. but this will also definitely be controlled in future by many tracking methods that government is employing.

Now my doubt is, don't you have TDS system for the salaried employees in Pakistan. I know it may take some more time to control the receipt of taxes from Business community, Doctors, Lawyers etc. I think it is easier to collect the taxes from Employees.