PESHAWAR: Pakistan Tehreek-e-Insaf (PTI) politician Omar Ayub on Thursday accused the government of failing to meet the goals set by the International Monetary Fund (IMF) amid reports suggesting that a “mini-budget” is on the cards, which, if introduced, could add to the economic hardship for inflation-burdened masses.
“This government cannot meet the IMF (International Monetary Fund) targets,” Ayub, the leader of the opposition in the National Assembly, informed the media in Peshawar on Thursday.
An urgent IMF mission is due in Islamabad next week to push Pakistani authorities to introduce a mini-budget for “course correction” in the aftermath of major “deviations” on performance targets, sources told The News.
According to the sources, this decision of the Fund’s abrupt visit has been triggered primarily because the Pakistani authorities failed to convince it about their intention of “course correction” through virtual meetings in recent days.
Criticising the government for its failure to stop the masses’ affordability from eroding further, the PTI stalwart said that the nation was swept by a “flood of inflation”, as he lamented the utter lack of constitutional and legal order across the country.
Pakistan’s average inflation rate stands at 8.7% in the current fiscal year, according to the Statistics Bureau, with the IMF predicting an average 9.5% inflation rate for the year ending June. October’s inflation rate was 7.2%, slightly above expectations.
The finance ministry forecasts inflation to slow to 5.5-6.5% in November; however, analysts warned inflation may pick up again in 2025 due to electricity prices and the potential impact of taxes announced in the June budget that will take effect in January 2025.
Ayub further alleged a lack of basic amenities for PTI’s founder Imran Khan in prison and expressed concern over the detention of senior PTI member Azam Swati on “unfounded” charges.
Despite these challenges, he stressed that the PTI would continue to stage democratic protests against what he described as the government’s mishandling of national affairs.
Replying to a question regarding the US presidential election, Ayub extended his congratulations to Donald Trump, emphasising PTI’s interest in fostering positive relations with Washington.
Trump was elected US president, capping a remarkable comeback four years after he was voted out of the White House and ushering in a new American leadership likely to test democratic institutions at home and relations abroad.
