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IMF leading Pakistan to starvation: FPCCI

IMF leading Pakistan to starvation: FPCCI

KARACHI: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) said that the conditions of International Monetary Fund (IMF) have delivered a deadly blow to the shaky economy and social equality which will spark off anarchy across the country.

IMF conditions are of little economic benefit but have a devastating impact on families, communities, economies and currencies, said Zubair Ahmed Malik, President FPCCI.

Speaking to business community, he said that implementation of IMF policies has triggered unemployment, compromised working conditions and amplified social inequality globally; Pakistan is no exception.

Zubair Ahmed Malik said that the lender is a tool designed for global dominance which will always fail to regulate greed or prevent a crisis but support the rich which is a reason behind increasing number of billionaires in almost all the countries, especially in the underperforming economies.

Economies depending on IMF are no more secure today than they were few years ago as implementation of IMF policies are ensuring the contrary, he observed.

Malik said that IMF programmes should be signed after taking masses and public representatives into confidence as undemocratic moves by democratically elected governments seldom pay.