Pakistan’s emphasis on “nuclear missile program will not be compromised” for IMF loan

According to the news in The Express Tribune, Minister Dar said in a special session in the Senate, where ambassadors of many countries were present, pointing to the IMF, that no one has the right to tell Pakistan at what range it should have missiles.

Dar said that Pakistan would not compromise on its nuclear missile program in order to reach an agreement with the IMF, and stressed that Islamabad should have its own deterrent.

Noting that the IMF is reviewing a new program each time, Dar said that this is an unusual situation.

Following this development, Prime Minister Shahbaz Sharif said on Twitter that misleading speculations about Pakistan’s nuclear and missile program are unfortunate, emphasizing that it represents the unwavering consensus of the nation.

A Western country opposes its nuclear missile program

Some Pakistani officials say a Western country has long asked Islamabad to abandon its nuclear missile program.

Pakistan’s Şahin-III missiles, which have a range of 2,750 kilometers, can carry nuclear warheads.

Central Bank foreign exchange reserves of 4.3 billion dollars

Negotiations continue between Pakistan and the IMF on the release of a $1.17 billion loan.

The IMF demands Pakistan to increase its tax base, end privileges in the export sector and raise energy prices.

With a nominal gross domestic product of 350 billion dollars, Pakistan has a foreign exchange reserve of 4.3 billion dollars after the credit support of the Central Bank from two Chinese banks.

agreement with the IMF

Pakistan has agreed with the IMF for an economic rescue package of $ 6 billion, which is planned to be paid in 39 months in 2019.

In July 2022, it was discussed again and the IMF announced that the total loan amount was increased from 6 billion dollars to 7 billion dollars.

Under the agreement reached, the IMF stated that it would release a $1.17 billion loan to Pakistan if the conditions were met.

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