Bilawal asks govt to renegotiate terms with IMF

Updated March 27, 2020

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“Given we are facing global pandemic, the government must renegotiate terms with the IMF that take into account impact of Covid-19 on global economy.” — Twitter/File
“Given we are facing global pandemic, the government must renegotiate terms with the IMF that take into account impact of Covid-19 on global economy.” — Twitter/File

ISLAMABAD: Pakistan Peoples Party (PPP) chairman Bilawal Bhutto-Zardari has asked the government to renegotiate with the Interna­tional Monetary Fund (IMF) the terms of its financing in the wake of Covid-19 pandemic and its impact on the country’s economy.

In a tweet on Thursday, he said it has been the PPP’s position for some time that the federal government must renegotiate its ‘ruinous’ deal with the IMF. “Given we are facing global pandemic, the government must renegotiate terms with the IMF that take into account impact of Covid-19 on global economy,” he said.

Meanwhile, PPP leader Raza Rabbani has called for transparency in the loans to be obtained to fight the war against coronavirus.

Talking to Dawn, he referred to the federal government’s announcement that it has approached multilateral international creditors, including the IMF, World Bank and Asian Development Bank, for obtaining $3.65 billion in loan to ward off the impact of coronavirus on the country’s economy and said there is and will be a steady flow of material and equipment.

Mr Rabbani said in the past this government had been shy in bringing financial agreements before parliament and the people. He noted there was a need for transparency while negotiating these agreements and in the utilisation of the funds, material and equipment.

“Therefore, for the days parliament is unable to meet the CCI should meet once a week, where details pertaining to the agreements, disbursement of money, material and equipment be placed before it for approval,” he remarked and said the National Disaster Management Authority (NDMA) should submit a similar report.

When parliament comes into session the proceedings of the CCI related to these matters be laid before it, as under Article 153 of the Constitution, 1973, the CCI is responsible to both houses. Thereafter, the federal government and the NDMA shall lay weekly reports before parliament.

The PPP leader said the nation stands in solidarity with its doctors, nurses and paramedical staff as they wage a relentless struggle against coronavirus.

Published in Dawn, March 27th, 2020