New Delhi [India], May 23 (ANI): India has said it is “thankful” for the 11 additional conditions imposed by the International Monetary Fund (IMF) on Pakistan, while clarifying that it is not opposed to financial assistance meant for genuine developmental purposes. At the same time, it raised serious concerns over the timing of the recent bailout package, suggesting that the funds may have indirectly supported Pakistan’s rising defence spending.
“We are thankful for the additional 11 conditions imposed by the IMF on Pakistan. However, we are not against any financial assistance provided for genuine developmental agendas. We have raised questions regarding the timing of the recent bailout package given to Pakistan by the IMF,” government sources said.
“All these arms and ammunition are then used by Pakistan against India,” the sources added, citing IMF data.
Sources, also citing public data, told ANI that, “Pakistan spends on average around 18 per cent of its general budget on defence affairs and services, while even conflict-affected countries spend far less, averaging 10-14 per cent of their general budget expenditure. Furthermore, Pakistan’s arms imports increased dramatically from 1980 to 2023, by over 20 per cent on average in the years when it received IMF disbursements compared to years when it did not.”
Meanwhile, Indian multi-party delegations are visiting various countries to expose Pakistan’s support for terrorism and highlight India’s zero-tolerance policy towards it.
According to a report by Pakistan-based Express Tribune, the IMF has placed 11 new conditions on Pakistan for the release of the next tranche of the bailout package meant for its struggling economy.
The IMF staff report, released on Saturday, warned, “Rising tensions between India and Pakistan, if sustained or deteriorate further, could heighten risks to the fiscal, external and reform goals of the programme.” It added that overall risks to the programme had increased.
Among the conditions is the approval of a Rs 17.6 trillion budget for the financial year 2025-26, in line with IMF targets. Another condition asks Pakistan to implement new Agriculture Income Tax laws. This includes setting up systems for return filing, taxpayer registration, communication efforts, and a compliance plan. The deadline for this is June 2025.
A third condition requires the publication of a governance action plan based on the IMF’s Governance Diagnostic Assessment.
The IMF also wants Pakistan to prepare and publish a financial sector strategy for the period after 2027, outlining its institutional and regulatory plans from 2028 onwards.
On May 9, the IMF completed its review of the USD 1 billion Extended Fund Facility (EFF) and also considered a new USD 1.3 billion Resilience and Sustainability Facility (RSF). This brings total disbursements under the USD seven billion programme to USD two billion so far. (ANI)
Disclaimer: This story is auto-generated from a syndicated feed of ANI; only the image & headline may have been reworked by News Services Division of World News Network Inc Ltd and Palghar News and Pune News and World News
HINDI, MARATHI, GUJARATI, TAMIL, TELUGU, BENGALI, KANNADA, ORIYA, PUNJABI, URDU, MALAYALAM
For more details and packages
