‘India becoming superpower and we are begging…,’ Pakistan Opposition leader says

‘India becoming superpower and we are begging…,’ Pakistan Opposition leader says

Islamabad: Pakistan’s Opposition leader Maulana Fazlur Rehman drew a stark contrast between his country and India, saying that while the Islamic nation is begging to avoid bankruptcy, the latter is actively aspiring for a superpower status. His comments came after IMF okayed a $1.1 billion loan for Pakistan. Pakistani Opposition leader said India is dreaming of becoming a superpower but Pakistan is begging to avoid bankruptcy.
Pakistani Opposition leader said India is dreaming of becoming a superpower but Pakistan is begging to avoid bankruptcy. Pakistani Opposition leader Maulana Fazlur Rehman on Monday drew a stark contrast between his country and India, saying that while the Islamic nation is begging to avoid bankruptcy, the latter is actively aspiring for a superpower status.

“Who is responsible for this?…There are powers behind the walls controlling us, and they make decisions while we are just puppets,”Rehman was quoted as saying by ARY News. He accused the Pakistan government of “selling democracy.” Rehman also expressed dismay over the representative nature of democratic institutions in Pakistan, saying, “The governments are formed in palaces and bureaucrats decided who would be the Prime Minister.”

“How long will we continue to compromise? How long will we seek help from external forces for being elected as a lawmaker. How can our conscience be clear when sitting in this assembly, as both the losers and winners are not satisfied,” the Pakistani opposition leader asked. Rehman also highlighted the burden of national debt on every Pakistani, while decrying the stagnation plaguing the nation. “We have made our country a victim of stagnation, such nations cannot progress,” Rehman added.

Pakistan-IMF deal to fix broken economy
The International Monetary Fund has approved a USD 1.1 billion loan tranche for crisis-hit Pakistan, signaling the conclusion of the second bailout package, ARY News reports. The funding represents the third and last installment of a USD 3 billion standby arrangement with the Washington-based financial body.

Last month, a staff-level agreement about the final review of the USD 3 billion rescue package was reached between Pakistan and the IMF. Two tranches totaling USD 1.9 billion have already been given to the nation — USD 1.2 billion in July and an additional USD 700 million in January 2024.

Now, Pakistan is looking forward for more substantial IMF loans over a longer duration. Finance Minister Muhammad Aurangzeb has indicated that Islamabad could secure a staff-level agreement on the new programme as early as July. The goal is to get a loan that will last for at least three years, to strengthen macroeconomic stability and carry out urgently required structural reforms.