ISLAMABAD: Prime Minister Imran Khan clarified here on Thursday that the government had no other option but to go to the International Monetary Fund (IMF) due to the trade deficit. He was speaking at the official launch of Sohni Dharti Remittance Programme (SDRP), a programme that focusses on encouraging and fortifying the official channels for remittances.
The prime minister clarified that even though the country was witnessing growth in its exports, the imports still outweighed them. “This causes devaluation of rupee and inflation,” added Khan.
He pointed out that Pakistan has approached the IMF 20 times seeking financial aid despite being in direct competition with countries like Singapore and Malaysia in the 1960s.
The prime minister acknowledged the contribution of the nine million overseas Pakistanis and said that everything must be done to encourage them to send more remittances and infuse more money in the country.
It is pertinent to mention here that Prime Minister Imran Khan has severely critcised the previous regimes for approaching the IMF on various occasions. Before coming into power, he had said that he would rather be dead instead of opting for an IMF bailout package. However, ever since coming into power in 2018, Pakistan has had to go to the IMF on more than one occasion.