Pakistan’s former Prime Minister Imran Khan said his party will court arrest to protest the government’s refusal to hold early elections and fight the tough measures being put in place to unlock a crucial loan from the International Monetary Fund.
(Bloomberg) — Pakistan’s former Prime Minister Imran Khan said his party will court arrest to protest the government’s refusal to hold early elections and fight the tough measures being put in place to unlock a crucial loan from the International Monetary Fund.
Khan’s Pakistan Tehreek-e-Insaf party will continue its campaign to push for early elections — and will take to the streets and launch a so-called “jail bharo tehreek,” filling up the country’s jails to fight what he called the Shehbaz Sharif government’s constitutional “violation” of avoiding a test at the ballot.
“Pakistan will go bankrupt if the government fails to hold early elections,” Khan told foreign journalists at his Lahore residence on Wednesday. “Only that will ensure political stability.”
The flamboyant former cricket captain still enjoys popular support in the country and has been holding huge rallies to press Sharif into snap polls. Sharif had joined forces with other parties to oust Khan from power about a year ago. His term ends in August.
Imran Khan Confident of Election Win, Backs IMF Role in Pakistan
The political situation risks escalating just as the current government takes key steps toward unlocking a crucial bailout from the IMF. In the absence of this financing, Pakistan faces a default as the nation’s forex reserves have depleted to less than $3 billion, hardly enough for one month of imports.
Khan said in an interview last month that he would back a continued role for the international lender to prop up the economy and stave off a growing risk of a debt default. However, on Wednesday, he said his lawmakers would fight “tooth and nail” the financial measures the Sharif administration was taking to unlock a bailout.
Pakistan Takes Key Step to Secure IMF Loan, Avoid Default
“We will question the government on the second wave of inflation this new money bill will unleash,” Khan said.
The comments came as the government presented a bill to raise 170 billion rupees ($636 million) in taxes, a key condition to secure funds for the IMF bailout. It also approved an increase in gas and electricity prices, without disclosing how much they would rise.
The PTI’s protests would be largely token because Pakistan’s President Arif Alvi, who belongs to Khan’s party must ratify the finance bill once it’s passed by parliament, where Sharif’s coalition has the numbers it needs.
However, the political disruption would come when the government can least afford it.
Pakistan and the IMF have had prolonged talks on steps needed to revive a $6.5 billion loan program after failing to reach a deal last week when officials from the global monetary body visited the country.
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