By Our Staff Correspondent
ISLAMABAD: The deal with the IMF is a test of the ability and capability of the government while the details of the agreement reached with the lender should not be kept secret to avoid suspicions, a business leader said Tuesday.
Many businesses will march towards bankruptcy because of flawed policies of the government and majority of the masses will never acknowledge anti-people-actions of the government as directed by the IMF, said Shahid Rasheed Butt. He said that market-determined exchange the rate will leave local currency as worthless as a tissue paper which will take a toll on the poor. The IMF’s conditions should not be dubbed like a bitter pill but a poisonous dose for the masses reeling under inflation, he added.
Shahid Rasheed Butt who has also served as President ICCI and Patron ICST said that the IMF’s dictated exchange rate policy will result in economic losses and increased uncertainty among the worried business community.