Former Finance Minister Miftah Ismail claims to have visited the IMF 23 times.
He stated that China has bailed out four to five times in history and that China has not cooperated with anyone.
Mufta H Ismail stated that when Imran Khan left after four years, he took 80% of the loan, while Shaukat Tareen took 76%.
He stated that if the IMF is not present, other banks, including the World Bank, will not make loans. In 2006, Pervez Musharraf donated nearly $100 billion to the People’s Party.
People’s Party worked hard; when the PML-N came, the circular debt increased to 500 billion; when the PTI came, it increased to 1100 billion.
The former finance minister stated that as a policymaker, he holds himself accountable. He stated that the circular debt is the power sector’s loss.
Pakistan’s debt has surpassed $100 billion, and the country has the worst governance in the world, with which we are unable to achieve anything.
The problem of increasing circular debt is caused by system failure; if the IMF does not participate in the program, the rest of the world will not lend.
