KARACHI: The Pakistan Economy Watch (PEW) on Sunday said International Monetary Fund (IMF) is pushing Pakistan into stone age through its negatives economic policies.
Instead of encouraging growth in vulnerable economies, IMF destroys state institutions, disintegrate protective economic barriers and impoverish large numbers of the population, it said.
The destructive policies of the lender will transform Pakistan into a graveyard of industry and agriculture, said Dr. Murtaza Mughal, President PEW.
The visiting mission of the IMF will leave only after ensuring the continuation of its genocidal policies to destroy economic activities and trigger unemployment, he added.
He said that the stringent IMF conditions regarding the hike in electricity tariff, increased interest rates and devaluing currency have terrified masses and the business community.
Dr. Murtaza Mughal said that bureaucracy has successfully created a divide between masses and the government after which later has emerged as a serious threat for the poor.
He noted that rich have been spared while poor are being targeted for stabilization of the economy which is worst form of exploitation that may lead to a trend of suicides among masses like India
Different mafias and gangs of businessmen are ruling the country and continue to skin the masses with the support provided by the political class.
Dr. Mughal said that the continuation of such policies will hit masses and whole country can experience a Thar like situation where children die daily to malnutrition.
The IMF is not interested in reforms empowering the masses and simplifying the tax system while recent directives are against the basic human rights protected by the Constitution, he said.