Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan has announced that his party is working on a strategy to save the country from default by negotiating with the International Monetary Fund (IMF) to find a way to pay off its debts. The former Prime Minister stated in an interview with the Financial Times that the PTI is working with economists to develop a plan to present to the IMF. He emphasized the need for a “viable way” to pay off debts without choking the economy.
Pakistan is currently in talks with the IMF to secure the final $1.1 billion of a $6.5 billion bailout package. Khan criticized the government for failing to improve the economic crisis and pledged to prioritize domestic reforms over seeking debt relief.
Khan stressed the importance of restructuring loss-making state-owned enterprises and expanding the tax base to revive the economy. He questioned whether the solution to Pakistan’s economic problems was “getting more loans or restructuring the way we run the country?” Khan highlighted the country’s growing debt and shrinking economy and expressed his concern about how Pakistan will pay its debts if its dollar income does not increase.
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Khan’s plan to save the country from default has received a positive response from many Pakistanis who are concerned about the country’s economic future. The PTI’s strategy will be closely monitored as Pakistan continues to navigate economic challenges.
