IMF playing negative role in global economic crisis

The International Monetary Fund (IMF) is playing a ‘negative role’ in the current global economic crisis, former prime minister Shaukat Aziz said on Friday.

Aziz also stressed the need for a strategy to deal with future challenges.

In an interview with ARY OneWorld, Aziz emphasised the need to strengthen the foundations of the economy and monitor the performance of the global financial institutions. He said more dams needed to be constructed to overcome the energy crisis in Pakistan.

He rejected the allegation that his government did not work on any energy project, saying they had worked on many power projects including the Ghazi Barotha project, Chashma Power Plant 1 and 2 and the Diamir-Bhasha dam.

Aziz said measures should be taken to improve the performance of the stock market. He said the confidence of the investors would have to be restored to overcome the financial crisis in the country. Referring to the criticism being levelled against him, he said, “It has become our tradition to criticise people in their absence.” He denied that he had set up any company in Dubai.

He said the price of wheat flour in Pakistan was the lowest in the region during his government.