Small traders wary of IMF deal

'IMF funds will provide a temporary relief but implications of implementing the loan conditions will be far-reaching'

HYDERABAD:

The Hyderabad Chamber of Small Traders and Small Industry (HCSTSI) has cautioned of a tough economic situation ahead as the government will have to implement new conditions of the International Monetary Fund (IMF) after securing a $3 billion loan.

HCSTSI President Muhammad Farooq Shaikhani in a statement on Monday said the IMF provided few billion dollars will provide a temporary relief but the implications of implementing the loan conditions will be far-reaching.

He pointed out that the recent move to hike the interest rate of 22% is only adding to the problems of trade and industry sectors in Pakistan.

He viewed withdrawal of the amnesty scheme as another adverse move for the economy.  

 

Published in The Express Tribune, July 4^th, 2023.