Business leader and former President of the Islamabad Chamber of Commerce and Industry (ICCI), Dr. Shahid Rasheed Butt, said on Friday that the masses are always made to pay for the luxuries of the elite class. He said this trend will continue as long as important policies are made for the interests of the elite instead of the interests of the country.

Shahid Rasheed Butt said that every political party, after coming to power, wastes as much resources as they can.

In a statement issued here, he said that by taking loans from the IMF more than a dozen times and hundreds of times from other international organizations, the rulers have proven that they cannot run the country’s economic affairs properly.

The irresponsible rulers have also proved that the country can run only under the IMF’s supervision.

Shahid Rashid Butt said that almost all the past rulers showed extreme irresponsibility by continuously taking loans and ruthlessly misusing them, which the international institutions never objected to that added fuel to the fire. As a result of irresponsible spending, the country has repeatedly reached near bankruptcy.

He noted that the current government sought the IMF’s help to save the country from disaster. According to the IMF’s instructions, the government has put the economy on the path to improvement through painful economic reforms.

However, the people have had to pay a heavy price for it. At present, the IMF is satisfied with Pakistan’s performance, and a delegation from the international organization will arrive in Pakistan on March 3 to conduct the first review. He said that technical aspects and policy-level negotiations will be held during the review, while the budget preparation for the next financial year will be reviewed.

The IMF team will also meet with the heads of various ministries and departments and discuss the issue with provincial representatives. The relief the government hopes for the salaried class will be subject to the IMF’s consent.

During this time, unnecessary privileges given to the elite and sectors that do not pay taxes, pay little tax, and pay more than necessary taxes will also be discussed. If there is any progress in balancing the tax system, it will be good fortune for the country.

The business leader said that if the delegation’s visit is successful, Pakistan will receive a one-billion-dollar installment from the IMF.