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Islamabad: The IMF mission has reached Pakistan for talks with Pakistan.
According to ARY News, sources say that the talks between the IMF and Pakistan will start from today, while technical talks will be held in the first phase.
Sources say the first four days will be technical talks in which data from different departments will be discussed.
Sources said that the people have to bear more hardships, otherwise the poor sections will be saved through subsidies.
Read: IMF calls for more taxes, economists sound the alarm
Economist Dr. Zubair said during ARY News’ program ‘Atraz Hai’ that the former finance minister also signed the IMF agreement with his eyes closed and now the current finance minister is also going to accept the terms of the IMF.
The economist said the people are suffering from inflation as it is, there will be more inflation, the value of the dollar will stabilize.
It may take more time.
Dr. Zubair said that there is a huge difference between available dollars and buying, due to lack of dollars, LCs will not remain open, inflation will increase further, the government does not control the money supply at all.
He said that due to the increase in interest rate, inflation will increase and there will be loss. There is a cycle of exchange rate and inflation that will continue.
Economists said that the IMF program is very flawed, there are many mistakes, instead of reducing the losses in the electricity sector, the prices have been increased, the IMF is demanding more taxes, which will stagnate the economy.