UK envoy urges Pakistan to implement IMF-agreed reforms
ISLAMABAD: British High Commissioner to Pakistan Jane Marriott on Monday urged Pakistan to fully implement its commitments to economic reforms under the IMF agreement, cautioning that failure to do so could jeopardise access to critical loan disbursements.
Speaking at the Islamabad Policy Research Institute (IPRI), she said “full implementation of all reform commitments will be essential. Otherwise there is very significant risk that Pakistan will lose access to IMF disbursement which is essential for economy and national stability”.
She feared economic achievements made over the past year-and-a-half could encourage the government to provide relief to the public, which could affect the reforms process.
In September, the IMF approved a $7 billion loan programme for Pakistan. The Fund demanded tough reforms, including fiscal discipline, tax policy overhauls, and governance improvements.
Ms Marriott emphasised the need for political will to implement reforms and clear communication with the public to navigate the difficulties associated with reform measures.
The high commissioner called for transparency in renegotiating contracts with Independent Power Producers (IPPs) to preserve investor confidence while recommending a universal application of renegotiation principles.
Ms Marriott expressed concern over Pakistan’s ongoing internet slowdown, which the IT industry association has warned could drive IT firms and freelancers out of the country.
She urged authorities to devise practical solutions to address the issue, underscoring the sector’s importance to the national economy.
Responding to a question about legal proceedings against former prime minister Imran Khan, the UK high commissioner declined to comment directly, but underscored the importance of a transparent and fair legal process.
Published in Dawn, December 17th, 2024