Daily Times

Former chairman of Senate Mian Raza Rabbani has said that it will be “disastrous” if Pakistan approaches the International Monetary Fund (IMF) to seek another bailout.

Speaking to reporters on Monday, he claimed that the statement by US Secretary of State Mike Pompeo opposing an IMF programme for Pakistan had shown that the Fund is an “instrument of imperialist powers”. “The imperialist powers want to use IMF and other institutions [for their interest],” he claimed.

The US has warned that it will be watching closely to ensure Pakistan does not use IMF money to repay debts to China, which has poured billions into the country for infrastructure projects under its Belt and Road Initiative. Examine: Imran Khan and the IMF: Pakistan’s bailout dilemma

Rabbani alleged that it was the agenda of the US to have conflicts prevail in this region and make Pakistan play a certain role. Referring to Finance Minister Shamshad Akhtar’s suggestion that Pakistan might have to approach the IMF after the new government is installed, he claimed that if the caretaker finance minister has prepared an IMF package for the country, “she has exceeded her legal mandate”.

He said even if the new government plans on going to the IMF, the issue should be debated in the parliament first.

Published in Daily Times, August 7^th 2018.