Foreign loans death trap for economy: Altaf Shakoor

Karachi, July 11, 2019 (PPI-OT): Pasban Democratic Party (PDP) chairman Altaf Shakoor has said that the rulers are happy on receiving the first installment of the IMF loan, but in fact this loan is a death trap for the national economy. In a statement here Thursday, he said previously the PPP and PML-N governments had taken heavy loans from the IMF and now the PTI’s ‘change regime’ has also taken heavy loan from the IMF and completed hat trick of IMF loans. He said getting loans from the IMF is a spectacular failure of the PTI, and signature on the black warrant of the national economy. He said the sitting government has taken IMF loans with harsh conditionalities without getting them discussed in parliament, which is just deplorable.


Altaf Shakoor said now as the result of the cruel conditionalities of this loan, poor Pakistani people would be further burdened with poverty, hunger, price hike, joblessness and deprivation. He said the government has already raised tariffs of gas and electricity besides increasing prices of petroleum products, which have resulted in a sharp price hike. He said now basic kitchen commodities are getting out of reach for millions of poor families, raising poverty and hunger in Pakistan to new alarming levels.


He said the PTI government had done no homework on economy and they just fooled the people of Pakistan with catchy slogans and false promises. He said instead of generating revenue from local available resources the rulers opted for the IMF loans having very harsh anti-people conditionalities and this act of the selfish rulers have shattered the dreams of Pakistanis for getting self-sufficiency and upholding sovereignty. He said the claim of rulers that no new tax was slapped in budget is pack of lies. He said the real fact is that the budget-making was actually done by the stooges of international lending agencies including the IMF, who were handpicked by the PTI government on dictation of loan givers.


Altaf Shakoor said the people of Pakistan have once again to struggle for getting rid of the foreign agents and slaves who are deciding the fate of this nation. He said we have also to get rid of corrupt electables including the looters of urban areas and Waderas of rural areas. He said unless the true and real representatives of Pakistani people are sent to parliament, the basic issues of the poor Pakistanis could not be resolved.


For more information, contact:

Press Secretary,

Pasban Pakistan

Pasban Central Secretariat

Office # 9, Five Star Center,

Block 11, University Road, Opp. Ibne Sina Hospital,

Gulshan-e-Iqbal, Karachi

Tel: +92-21-34024480-81

Cell: +92-322-2212434