THE International Monetary Fund has approved the eighth installment of $6.64bn, of which $500m loan has been released for Pakistan. This loan aims at improving the economic growth in the country. The funds were released after the review of the country’s economic performance.

This loan will again increase the prices, and its burden will be thrown on to the public.

This aid will be used to increase the growth and stabilise the economy. If the loan keeps on increasing, the interest will be passed on to the public, and items of daily use, per unit, will get costlier.

If the government wants to complete its five years, it should come up with some other ideas to boost the economy. The loan will increase the burden on the public.

The idea of growing the economy with aid will not help the economy. The government needs to raise new entrepreneurs and risk-takers. This will eventually increase the growth rate. Providing people with their own resources and talent is what the PML- N needs to do right now. Foreign loans are no more helpful in making a country stand on its own feet. We need our own resources to prosper.

M. Imran

Karachi

Published in Dawn, October 5th, 2015

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