IMF presented harsher terms to Pakistan after change in economic team, says ex-finance secretary

KARACHI: Former finance secretary Mohammad Younus Dagha disclosed that the International Monetary Fund (IMF) presented harsher terms to Pakistan after the country changed its economic team.

Dagha was speaking during the Geo News programme "Aaj Shahzeb Khanzada Kay Saath" where he spoke about the finance ministry and his tenure as its secretary.

Dagha said he resigned after developing differences with members of the government's economic team. The ex-finance secretary said he did not agree with the government's economic policy, especially when it comes to the government's decision to hold talks with the IMF for a new programame.

Delving into details of the IMF-government talks, Dagha revealed that initially when talks began in Washington, the IMF did not present any harsh terms or conditions.

He said that after the economic teams of the State Bank of Pakistan and the Ministry of Finance were changed, the IMF presented different terms and conditions, which were harsher in nature.

Dagha said approaching the IMF late for the loan had an impact on the national economy, adding that the government should have been clear on the issue.

He said continuity of the government's economic team, implementation of agreements and persistence in policies were some crucial decisions that were needed to strengthen the economy.

Dhaga said there might be a difference of opinion when it comes to the government's policies, however, it would be wrong to say that producing surplus electricity was a wrong decision.