Prime Minister Shahbaz Sharif has lauded Chief of Army Staff COAS) General Asim Munir’s efforts for securing financial commitments from friendly countries, one of the last conditions set by the International Monetary Fund (IMF) to unfreeze a $6.5 billion credit line.
The prime minister’s statement came days after Finance Minister Ishaq Dar had announced that the United Arab Emirates had given an assurance to the IMF for a $1 billion loan to Islamabad. Saudi Arabia had already made assurances for a $2 billion loan, according to the finance ministry..
Advertisement: 5:04
Close PlayerUnibots.in
Addressing a meeting of the ruling coalition parties here on Tuesday, the prime minister said the IMF agreement was in its final phase as securing loans from friendly countries to bridge the external financing gap was the one of the last conditions to revive the stalled $6.5 billion bailout package.
“The army chief made immense efforts in this regard which are indescribable,” Express News quoted the premier as saying during the huddle.
Also read: Pakistan gets another $2 billion from Saudi Arabia
The prime minister also appreciated efforts by Finance Minister Ishaq Dar and Foreign Minister Bilawal Bhutto Zardari for the success of the process.
On Saturday, the IMF said that it was still waiting for the “necessary financing assurances” for the successful conclusion of the review talks. IMF Mission Chief to Pakistan Nathan Porter said the Fund “looks forward to obtaining the necessary financing assurances as soon as possible to pave the way for the successful completion of the 9th EFF (Extended Fund Facility) review”.
But on Monday, Prime Minister Shehbaz Sharif told the lower house of the parliament that Riyadh has provided another $2 billion, while the United Arab Emirates (UAE) has also committed to give $1b to Pakistan. The premier said the country has met all IMF conditions following the $3b commitments from Saudi Arabia and the UAE.
PM heaps praise on coalition partners
In the meeting on Tuesday, PM Shehbaz said that out of sincerity and commitment with the country, the coalition parties had shown an unprecedented unity throughout the first year of their government “becoming a matter of worry for the opposition parties”.
He also told the participants of his upcoming telephonic conversation with new Chinese Premier Li Qiang in the last week of April in which they would discuss matters of mutual interest.
He reiterated the coalition government’s resolve to overcome the challenges it had taken up for sake of the country’s progress. “I again assure you that you have elected me your prime minister and I will try my best to live up to your expectations.”
The prime minister said that, in the beginning, both the opposition and even the people within the coalition parties were not hopeful of the durability of the alliance. However, all of the allied parties manifested their democratic spirit and played their constructive role to maintain unity as well as for steering the country out of pervading challenges.
Also read: IMF puts a damper on early deal hopes
He said that, despite differences on certain matters, the coalition partners remained united to face the challenges inherited from the previous government. In democracy, decisions are made through consultation and not imposition, he added.
Referring to the ongoing controversy regarding the Supreme Court verdict on general elections in Punjab, the prime minister said that nowhere in the world had it ever happened that a court granted a stay on implementation of a law even before its promulgation.
He said the decision of the three-member bench prompted the bar councils to raise their voice – for sake of the rule of law, not out of love for the government – as they also believed that the decision was contrary to the norms of the justice.
Prime Minister Shehbaz said the coalition parties were striving wholeheartedly to take this struggle of overcoming the challenges to a logical end, despite all odds.
April 18,2023
Source: The Express Tribune
Editor