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Debate Over IMF Bailout: Economic Realities. Former Prime Minister Shahid Khaqan Abbasi criticized Pakistan’s recurrent IMF bailouts, equating them to admission of economic mismanagement. Speaking at the Asma Jahangir Conference, Abbasi emphasized the need for investment in export-oriented sectors to address national economic woes.
He lamented the lack of long-term benefits from IMF loans due to misplaced spending and highlighted the necessity of political stability and a fair judicial system to attract investors. Former SBP Governor Shahid Hafeez Kardar echoed similar sentiments, attributing Pakistan’s economic decline to persistent flawed financial policies.
He criticized excessive government expenditures and bureaucratic inefficiencies, advocating for a reduction in unnecessary government divisions. Dr. Aisha Ghaus Pasha underscored the alarming increase in external debt over the past 12 years, emphasizing the need for a bipartisan approach to address the debt crisis.
The panelists collectively stressed the importance of political consensus and responsible financial management to achieve economic stability.
Haseeb Abdullah
