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Monday December 04, 2023

IMF deal: Dar assures 'no compromise' on nuclear programme

Nobody in world has right to dictate what range of missiles Pakistan should have, says Ishaq Dar

March 16, 2023
Minister for Finance and Revenue Ishaq Dar. — Twitter/ @FinMinistryPak
Minister for Finance and Revenue Ishaq Dar. — Twitter/ @FinMinistryPak

ISLAMABAD: Nobody in Pakistan can compromise on the nuclear and missile assets of the country, Minister for Finance and Revenue Ishaq Dar assured on Thursday while responding to Pakistan Peoples Party (PPP) Senator Raza Rabbani's concerns over the stalled International Monetary Fund (IMF) deal.

Senator Rabbani expressed concern during a Senate session on Thursday. He asked if the IMF programme was being delayed to "force the government into resorting to moves that were against state interests".

"I believe in transparency and fiscal discipline [...] let me assure you that nobody is [ready] to compromise on the nuclear or missile programme of Pakistan. No way!" Dar stressed.

The finance minister said nobody has any right to dictate to "Pakistan what range of missiles and what nuclear weapons it can have; we have to have our own deterrence".

Finmin Dar said that the incumbent government did not enter into the ongoing agreement with the IMF and noted that it was the Pakistan Tehreek-e-Insaf (PTI)-led administration that had entered into the programme in 2019.

"This programme should have been completed in 2022," he said, castigating the PTI regime for succumbing to IMF demands including the autonomy of the State Bank of Pakistan.

He said that previously, there were reviews that were completed, but now, it seems that every review has become a "new programme, which is very uncustomary with the IMF".

The finance minister said the delay is not on part of the incumbent government and claimed that they have been involved in extensive engagements with the IMF which are "unusual, too lengthy, too long, too demanding".

"We have completed everything. Let me tell you [...] that some friendly countries made commitments to bilaterally support Pakistan and IMF is now asking that they should actually complete and materialise those commitments."

"That's the only delay and I can assure the house that the moment it is done and the staff-level agreement is signed, I will make sure that the Memorandum of Economic and Financial Policies (MEFP) is uploaded on the website," the finance minister said.

IMF's funding is crucial for Pakistan as it faces a balance of payment crisis and the SBP-held foreign exchange reserves have also fallen to nearly a month's import cover.

'International agenda'

Earlier, speaking on the floor of the Senate, Rabbani said the parliament must exert its authority to prevent other forces from indulging in the affairs of the legislature. He said the Parliament should not bow before the dictates from any quarters.

The Pakistan Peoples Party (PPP) leader said that neither the previous nor the incumbent government took the parliament into confidence over the Tehreek-e-Taliban Pakistan (TTP) situation and the IMF deal.

"I fear that there's an international agenda at play here that wants Pakistan to play a role that is against the nation's priorities," the former Senate chairman said.

The PPP leader asked the house whether there was a plan of global powers aiming at Pakistan's strategic assets.

Nuclear programme ‘completely secure’

Separately, the Prime Minister’s Office (PMO) emphasised that Pakistan's nuclear and missile programme is a national asset, which is jealously guarded by the state.

“Complete programme is totally secure, foolproof and under no stress or pressure, whatsoever. It continues to fully serve the purpose for which this capability was developed,” the official statement said.

The PM office issued a statement after recent press releases, queries and various assertions regarding Pakistan's nuclear and missile programme, including the IAEA DG’s routine visit.