Dear Managing Director of IMF,
I hope this letter finds you well. I am writing to bring to your attention the unique challenges facing Pakistan’s economy and to appeal for your support in addressing them.
Despite enduring significant economic and infrastructural losses over the past two decades, Pakistan has remained steadfast in honouring its commitments to the IMF. Our track record of timely loan repayments is a testament to our unwavering dedication to financial responsibility.
However, it is important to acknowledge the immense hardships we have faced. As a frontline state in the war on terror, Pakistan has borne a disproportionate burden, both in terms of human lives lost and economic costs incurred. The toll of over 90,000 lives lost (compared with 5000 KIA of 49 NATO countries during WOT in Afghanistan) and economic losses exceeding $1000 billion cannot be overstated. The ongoing threat of terrorism continues to disrupt normalcy, with attacks occurring regularly across the country.
Furthermore, our economy has been ravaged by natural disasters, most notably the devastating floods of 2022, which resulted in losses exceeding $40 billion. These calamities have strained our resources and hindered our ability to achieve sustained economic growth.
In the light of these challenges, I implore the IMF to adopt a compassionate and pragmatic approach in its dealings with Pakistan. Rather than imposing stringent conditions on future loans, I urge the IMF to consider providing greater flexibility, such as waiving interest payments on previous loans and restructuring principle payments. Such measures would provide much-needed relief and enable us to focus on rebuilding our economy and infrastructure.
Additionally, I propose a novel solution to bolster Pakistan’s economy: advocating for developed countries to implement a zero-rated tax regime on imports from Pakistan. This initiative would stimulate trade and investment, creating opportunities for economic growth and development.
I believe that by working together collaboratively, we can overcome the challenges facing Pakistan’s economy and pave the way for a brighter future. Your attention and consideration to these matters are sincerely appreciated. Thank you for your time and continued support.
—The author writes on strategic, political, economic, current affairs & sports.
Email: [email protected]
An urgent open letter to MD IMF..!
20
36
26.03.2024
Dear Managing Director of IMF,
I hope this letter finds you well. I am writing to bring to your attention the unique challenges facing Pakistan’s economy and to appeal for your support in addressing them.
Despite enduring significant economic and infrastructural losses over the past two decades, Pakistan has remained steadfast in honouring its commitments to the IMF. Our track record of timely loan repayments is a testament to our unwavering dedication to financial responsibility.
However, it is important to acknowledge the immense hardships we have faced. As a frontline state in........
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