This is with reference to news in leading newspapers of Pakistan (21.12.2010) with titled “Pakistan asks IMF for 3 to 6 months extension.” Pakistan has requested IMF for 3 to 6 months extension in $11.3 billion stand by agreement. In response IMF official are visiting Pakistan in next couple of days for assurance from President Zardari or Prime Minister Yousaf Raza Gilani.
I think IMF officials is visiting Pakistan for pressurizing government to impose RGST, the biggest dispute between public and government, which is an act of snatching livelihood from poor public.
As for as the loan of IMF is concerned I have not seen financing any development project or the best utilization of foreign loans. Every government feels proud to take such liability and especially now it has adopted a shape of competition. Every new government is found trying to get a competitive advantage by getting success in acquiring foreign loans by pledging nation and then fulfill the penalty by sacrificing poor public.
My question is that why do they get loans for development of Pakistan (which they claim, but not in reality) if they know that they will have to sacrifice the poor citizens by imposing dozen of taxes in order to pay it back?
Isn’t there any other way to develop Pakistan, instead getting credit with too much restrictions and conditions?
