Pakistan has no option but to approach IMF: Sheikh Rashid

Federal Minister for Railways Sheikh Rashid Ahmed, while speaking at a meeting at KCCI, said that Pakistan is stuck in crisis and it is a well-known fact that the conditions imposed by the IMF will be harsh, but the country has no other option. He claimed that economic stability could not be achieved without political stability. Referring to Karachi Circular Railway (KCR) project, the minister said that following the Sindh govt.’s approval, Pakistan Railways would remove all encroachments and hand over the track to the Sindh govt. immediately. Former president KCCI Siraj Kassam Teli expressed concern that when govt. institutions discover misconduct in public sector companies, they harass private enterprises too who are not involved in day to day activities of those companies. Teli was of the view that the previous amnesty scheme was better and the upcoming one would fail due to lack of trust because the individuals who declared assets in the previous scheme were being questioned insouciantly.