A short clip of a talk show aired on the local TV channel is making rounds on social media on Friday where Economist and journalist Ihteshamul Haq claimed that the International Monetary Fund (IMF) has called Finance Minister Asad Umar “arrogant” and also stated that he comes “unprepared” to bilateral meetings.
He further said that “IMF has conveyed this message to the Pakistani authorities”, adding that “Umar was told nine months in advance that he will be made finance minister but he didn’t prepare for his role”.
Earlier, IMF had said that Pakistan’s capacity to return loans will be assessed, adding that it will consider the details of the previous loans before giving new loans.
The IMF had also said that Pakistan’s record of returning loan instalments will also be considered and the executive board will take a decision on giving Pakistan a loan in future.
According to the IMF press release, transparency in an important factor in returning loans. The US is ensuring that the IMF loan shouldn’t be used in paying back China’s loans, said the statement.
Earlier in November, the IMF team came to Pakistan to conduct two rounds of talk, following which Finance Minister Asad Umar said that Pakistan refused to accept demands of an increase in tax rate and electricity prices by the international finance body.
The Pakistani-led delegation led by Umar also disagreed on increasing tax collection target from Rs4,300 billion to over Rs4,700 billion.
The second round will begin when the IMF returns to Pakistan on January 15.