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April 12, 2019

Rabbani proposes parliamentary ratification of pacts with IMF

National

April 12, 2019

ISLAMABAD: Former chairman Senate Senator Mian Raza Rabbani on Thursday proposed the Parliament should make it mandatory through a resolution that any agreement signed with IMF shall be subject to ratification of the Parliament.

Reacting to media reports on Pakistan’s talks with IMF on a package, Rabbani said, “in the given circumstances that the nation has been kept in the dark about the negotiations of IMF package, the Parliament should through a resolution make it mandatory that such an agreement, when signed between Pakistan government and IMF shall be subject to ratification by the Parliament”.

He feared IMF package was meant to put CPEC on the sidelines and it would ensure imperialist powers’ interference in the internal affairs of Pakistan.

Rabbani charged that the U-turn of the federal government in seeking an IMF package was condemnable. He added the government in order to please IMF had before the agreement, started to implement IMF’s conditionalities, namely increasing the prices of petrol, electricity and gas. This had unleashed a price spiral which had broken the back of common man.

“The free float of the Pakistani rupee in terms of US dollar has swelled Pakistan’s debt manifolds. The IMF programme ensures that Pakistan remains a hostage of the international financial imperialists,” he maintained.

Rabbani said it would be recalled that on August 11, 2018 the US Secretary of State said that aid to Chinese allies should be blocked. In continuation, a letter had been written to the Secretary, US Department of Treasury on April 05, this year by the three members of the Congress, expressing concerns that Pakistan was seeking a bailout package from IMF to relief debts incurred from Chinese infrastructural projects. He noted the government of Pakistan should confirm or deny this letter.

“It is unfortunate that in this critical matter, which has a direct bearing on national security and effects the economic conditions of the common man, the government has failed to take into confidence the Parliament and the nation on the details of the package. No comprehensive briefing with reference to the conditionalities being imposed by IMF and being accepted by Pakistan had been given in either House,” he said.

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