China saved Pakistan from default: PM

Prime Minister Shahbaz Sharif says that China saved Pakistan from defaulting and other friendly countries also saved Pakistan from facing a difficult situation.

After the short-term agreement between Pakistan and the International Monetary Fund (IMF), Prime Minister Shehbaz Sharif held a press conference at Governor House Punjab along with Finance Minister Senator Ishaq Dar, Information Minister Maryam Aurangzeb and Governor Punjab Balighur Rehman.

Prime Minister Shehbaz Sharif said that it is very important to know the reason for the current economic situation of Pakistan, till 2018 Pakistan was developing but then Imran Niazi was imposed through the worst rigging, PTI signed an agreement with IMF. And then spread the dust, wheat and sugar were first exported and then imported during the PTI era.

He said that the talks with the IMF were going on for several months, the talks were going on with the IMF very seriously, all of us political parties put their capital at stake so that Pakistan does not default.

He said MDIM said we don’t want Pakistan to default, MDIF showed seriousness after the Paris Agreement, MDIMF said we want Pakistan to move forward. There is a 9-month three-billion-dollar program, after the July board meeting, Pakistan will start receiving installments from the IMF.

General Asim played an important role in securing loans from Saudi Arabia and UAC: Shahbaz Sharif
The Prime Minister said that while Finance Minister Senator Ishaq Dar and his team worked day and night for the agreement with IM, Foreign Minister Bilawal Bhutto Zardari also did diplomatic efforts and apart from our efforts, the Chief of Army Staff of Pakistan Army. General Asim Munir played a very key role in getting loans from Saudi Arabia and UAE, all this cannot be done by a single person, the agreement with IMF is a result of a team work.

He said that China played a key role in saving Pakistan from default, provided 5 billion dollars in commercial loans to China, Saudi Arabia, United Arab Emirates and Islamic Development Bank also helped Pakistan a lot, all friendly countries. There are no words to thank you.

May 9 was a big evil, the good thing was that ugly faces came out: Prime Minister
He said that the chances of Pakistan’s default were less but if God willing the country would have defaulted, I would not be able to forgive myself. Enemies tried to make Pakistan Sri Lanka.

The prime minister said that the events of May 9th are the link of it, the incident of May 9th was a conspiracy to destroy Pakistan, the enemies inside and outside were involved in the conspiracy of May 9th, these people wanted the IMF program No, Pakistan should be destroyed, anarchy in the country, May 9 was a great evil, the good thing was that ugly faces came forward.

A master plan has been prepared for the revival of Pakistani economy: Shahbaz Sharif
Shahbaz Sharif said that taking loan from IMF is not a moment of pride but it is a moment of concern for all of us. That we are going to the IMF to borrow and it is not a difficult task when nations decide it is possible and we have seen in the past that a neighboring country welcomed the IMF in 1991. Said and Turkey bid farewell to the IMF in 2007, Pakistan also last completed an agreement with the IMF during the tenure of Nawaz Sharif

Agreement between Pakistan and IMF
This standby agreement of $3 billion between Pakistan and the IMF has been agreed according to which the IMF Executive Board will approve the staff level agreement and the Executive Board meeting will be held in mid-July.

The agreement with the IMF will reduce the pressure on Pakistan’s external payments and the agreement will improve the provision of funds for the social sector, the agreement will also help in increasing tax revenue in Pakistan.

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