Shehbaz ready to sacrifice political capital at IMF altar

ISLAMABAD : Pakistan Prime Minister Shehbaz Sharif has indicated that the government was finally ready to swallow the bitter pill of the International Monetary Funds (IMF) "stringent" conditions to revive the loan programme.

The ruling Pakistan Democratic Movement (PDM) alliance was ready to sacrifice its political career for the sake of the country, Dawn news quoted Sharif as saying.

The premier said the government has clearly conveyed its intentions to complete the ninth review to the IMF.

"We are ready and want to sit down regarding your (IMF's) conditions so that (the review) can be concluded and Pakistan moves forward," he said.

"I spoke to the IMF managing director two weeks ago and we have proactively approached them... so that the programme moves forward, in addition to other multilateral and bilateral programmes."

He said Pakistan has been given a clear message "from left and right" that it would not be abandoned, but it should "stitch" the IMF programme, Dawn reported.

This was an apparent reference to reports that friendly nations and other global lending institutions are looking at the fate of the programme to provide financial aid to Pakistan.

As the economic crisis worsens, Islamabad has been making hectic efforts to convince the IMF to complete the review -- pending since September 2022 -- which will be followed by the release of funds.

However, the strings attached to the move have been a sticking point between the global lender and Pakistan, Dawn reported.