Dar questions IMF’s intentions towards Pakistan

LONDON: Considered an experienced hand when it comes to dealing with the international lender of last resort, Deputy Prime Minister Ishaq Dar has criticised the International Mone­tary Fund (IMF), accusing it of deliberately delaying disbursement of funds to the country after the Pakistan Democratic Movement took over the reins of the government from the PTI, leading many to speculate that Pakistan was on the brink of default.

“In the past two and a half years, attempts have been made to sabotage Pakistan’s critical negotiations with the IMF,” Mr Dar, who is also the foreign minister, said at a Defence Day event organised last week by the Overseas Pakistani Foun­dation at the Millennium Gloucester Hotel in South Kensington.

“There was geopolitics at play when Pakistan was close to default. Why shouldn’t I raise a finger when our technical review is complete … [why are they] wasting our time?” he questioned.

“I was in the last government for 11 months and reviews kept going on… my assessment is they wanted Pakistan to default. Our politicians should be wary of this — we are a nuclear state. Every time we go in that direction [of economic success], our legs are pulled. Conventional wars are over. [The disbursement] was delayed for eight months and that, in the economic life of a country, is a big crime,” he said.

Although he did not specify it, Mr Dar was not the country’s finance czar during the period he was referring to. The job was in the hands of Miftah Ismail at the time.

On Sunday, Mr Dar capped off his diplomatic engagements with a dinner hosted at Pakistan House in Hampstead, where British-Pakistani members of Parliament were in attendance.

An intimate gathering was hosted on Saturday evening by High Commissioner Mohammad Faisal where Mr Dar engaged in a discussion with MPs, including Nusrat Ghani, the deputy speaker of the House of Commons, and several other notable MPs of Pakistani heritage.

During his remarks, Mr Dar praised the recent election of 15 British-Pakistani MPs, calling it a testament to both the strength of British democracy and the success of citizens of Pakistani origin in the UK.

He highlighted Pakistan’s efforts under his government to revive its economy, reflecting on its growth trajectory during the Nawaz Sharif administration from 2013 to 2017, when he said the country had risen to the 24th largest global economy.

Mr Dar expressed concerns about the impact of political instability since 2018 but reaffirmed his government’s commitment to restoring economic growth, controlling inflation and drawing foreign investment.

A statement released by the High Commission said Mr Dar briefed the MPs on reforms that were beginning to yield positive outcomes, particularly in stabilising Pakistan’s currency and attracting investors to key sectors like energy and agriculture.

He also sought input on how to enhance British-Pakistani trade ties and encouraged younger British Pakistanis to stay connected to their heritage through a new visa-free policy for expatriates.

At the Defence Day event, Mr Dar praised the maturity of British parliamentarians and wondered when Pakistan’s political representatives could be groomed into behaving like adults.

“Look at the politics in the UK. They fight for political reasons in the Upper House, on policies and issues related to the public. But when they come out, they can have tea and coffee together. I don’t know when we will groom [ourselves] and become adults in political life and respect each other’s views,” he told the audience.

During his speech, Mr Dar lauded the sacrifices Pakistan’s military personnel have made for the country and said his party, under the guidance of Nawaz Sharif, had supported the military operation Zarb-i-Azab as well despite the financial implications.

At the same event, he criticised Imran Khan for “weaponising a confidential diplomatic communication”. It was “not just a breach of oath of office, but [he] jeopardised Pakistan’s foreign relations,” Mr Dar said.

He also hit out at the PTI founder for blaming the military for his ouster, which he said was through a vote of no confidence that is a common device in parliamentary democracies.

“Then the same people approached army chief Gen Bajwa, offering him an extension if the previous government was restored. What a sad democratic history we have. The world must be laughing at us,” Mr Dar said.

Published in Dawn, September 9th, 2024