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IMF Prescription Time Again

If the diplomatic and media backlash from Kargil was not enough, IMF tightened the economic squeeze on Pakistan. Insisting on GST of various percentage on electricity, water and gas, IMF delayed the release of the tranche expected by Pakistan in July, the latest date for expecting IMF funds is September. The Finance Minister Mr. Ishaq Dar is quite confident about receiving the IMF funds and the market seemed to agree with him, various financial experts remained pessimistic. Even without IMF adding to the proverbial pound of flesh, we are in serious economic straits. The Finance Minister, an incurable optimist, kept a brave face as he sought to minimise the effect on the common man but he might as well be speaking into the wind, which as everyone knows, can howl but cannot read. More financial misery is in store for the man in the street.