Pakistan on Wednesday rejected a recent statement by US Secretary of State Mike Pompeo in which the latter had cautioned the International Monetary Fund (IMF) against providing Pakistan a bailout programme which could possibly be used to repay Chinese loans.
“Why I believe that this statement is completely inappropriate is because China holds $3 billion in American deposited bonds and reserves and I am a little bewildered as to why this [Pompeo’s statement] needed to be said,” interim Foreign Minister Abdullah Hussain Haroon said at a media briefing in the federal capital.
He said Pakistani is determined to complete China-Pakistan Economic Corridor (CPEC) projects and that there is absolutely no reason for anyone to intervene in the China-Pakistan relationship. “It is the stated position of this government that it is totally wrong to link any IMF package with CPEC,” he said. “Third parties cannot weaken our collective resolve to make CPEC a success story.”
The minister stated that the caretaker government does not have a mandate to decide on any IMF package, which is why it made no sense for the US to raise the issue at this point in time. “Pakistan has paid every price that it could pay for the so-called war on terror that has now been ongoing for over 17 years,” he said. “Those who ask us to do more should consider what their own role has been,” he added.
Haroon asked how relations between the US and Pakistan can improve when the Financial Action Task Force (FATF) is throttling Pakistan’s neck. “Individual licenses have been issued to India for high-technology weapons, thus enhancing US-India bilateral defence trade. The sum being credited to this account is $9.7 billion,” he noted. Yet, the minister added, Pakistan is ready to talk to both its eastern and western neighbours for the betterment of the region. Haroon, however, refrained from commenting on whether an invitation would be extended to Indian Prime Minister Narendra Modi for the oath taking ceremony of Pakistan Tehreek-i-Insaf (PTI) chief Imran Khan, who is expected to be elected the new prime minister in coming days.
Published in Daily Times, August 2nd 2018.
