Pakistan News

Senate Session: FM Qureshi, Raza Rabbani exchange harsh words over IMF bailout package

ISLAMABAD: Foreign Minister Shah Mehmood Qureshi and Pakistan Peoples Party (PPP) leader Raza Rabbani on Monday exchanged harsh words over International Monetary Fund (IMF) bailout package during Senate session.


Speaking in the House, Qureshi asked whether PPP appointed Abdul Hafeez Shaikh as finance minister on the demand of IMF.


He emphatically stated that there is no threat to the country’s nuclear programme and multi-billion dollar China Pakistan Economic Corridor (CPEC) project.


The foreign minister also dispelled the impression that the country is heading towards One Unit or a Presidential system is being brought in the country.


Shah Mehmood Qureshi said that announcing National Finance Awards every five years is a constitutional responsibility and present government will fulfill it.


He, however, regretted that the previous government of Pakistan Muslim league-Nawaz (PML-N) had failed to fulfill this constitutional requirement in its five year tenure.


He said the president constituted the 9th NFC award but despite repeated requests by the former Finance Minister Asad Umer, the provincial governments especially delayed the process of nominating its representatives for the NFC award.


The Foreign Minister said the present government is seeking an IMF package because of the damage inflicted to the economy over the last ten years. He said that our friendly countries including Saudi Arabia, China and the United Arab Emirates gave the much needed balance of payment support but the gap is so huge that we have to go to the IMF to secure economic package.


He, however, reminded the opposition parties that their governments in the past also approached the International lender for the bailout package.


Shah Mahmood Qureshi strongly rejected the opposition’s criticism on the appointment of Reza Baqir as the Governor of State Bank of Pakistan. He said Reza Baqir is the son of Pakistan and he has offered his services for the country while leaving a better remuneration package at the IMF.

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