Mirza Ikhtiyar Baig (Economist): The government has left with no other option but to comply with the conditions of IMF in order to avail bailout package. Unfortunately the IMF has imposed harsh conditions but we have to comply with these conditions. Our foreign reserves are at the lowest level, the current account and trade deficit have increased and imports have declined. After certain measures taken by the government in the Finance (Supplementary) Bill, 2023, there will be an upward trend in inflation. No doubt, the poor man will suffer but it is high time to take some unpopular decisions. So far, we have been facing 4000 billion rupees  circular debt out of which 1500 billion is for gas and 2500 billion is for the power sector and to bridge this gap, the government has to increase the prices. There will be a substantial increase in the gas prices for all categories.

Qaisar Sheikh (Leader, PML-N: It has become obligation for Pakistan to seek financial support from International Monetary Fund and other international financial institutions to meet economic crisis.  After the IMF bailout package is matured, the friendly countries will also support Pakistan to come out of economic crises. The IMF wants the fiscal deficit to be reduced, imports must be reduced and exports be increased. The government has imposed additional taxes and duties of 170 billion rupees to meet the IMF demands. The general Sales Tax has been increased 1% and everyone will have to bear the burden of the GST. However, the GST on luxury items has been increased from 17 percent to 25 percent. Moreover, Federal Excise Duty is being enhanced on Cigarettes and Sugary drinks. The previous government has pushed the country into the economic crises but the incumbent government is making all out efforts to compensate for the economic losses made in the tenure of the PTI government.