Hammad Azhar, a former energy minister and current leader of the Pakistan Tehreek-e-Insaf (PTI), issued a warning on Sunday, stating that if the government agreed to the International Monetary Fund's (IMF) terms to complete the ninth review of the $7 billion Extended Fund Facility, inflation could increase to 40% from the current level of around 25%. (EFF).

The former minister also warned of an impending serious food catastrophe while speaking at a ceremony.

He attacked the PML-N-led coalition government, claiming that during the previous nine months, the economy had been brought dangerously close to collapse.

He argued that the country should have faith in the prime minister Shehbaz Sharif in regards to these matters. "The current agreement between Pakistan and the international loan organisation will expire in June of this year, at which point Pakistan will need to decide on a new scheme. Therefore, it is essential that a newly elected government in Islamabad negotiates a new agreement with the lending institution."

The PTI leader emphasised the necessity of early elections and continued policy implementation, and claimed that a government with a 5-year mandate could make this choice. "The nation is on the verge of catastrophe. A unpopular and irresponsible administration cannot lead the nation out of its current dilemma.

The former minister made fun of the current administration, saying, "You came into power to get the cases brought against you annulled. You damaged the nation.

He added that the next days would be harsher if the coalition government did not contact the IMF. Azhar predicted that the people would have to go through a difficult time. "Not going to the IMF would be disastrous."

The PTI leader lashed out at the administration, claiming that raw material LCs are not being opened and that 40% of the nation's businesses had shut down.

"Rupee's interbank rate loses all value"

Ishaq Dar, the finance minister, had promised to lower the dollar's exchange rate to below Rs190, but he was unsuccessful. According to Azhar, the open market price of the dollar is 40% higher, and the interbank rate of the rupee has lost all significance.

"IMF officials expected in a few days"

On January 6, Prime Minister Shehbaz announced that an IMF delegation would be travelling to Pakistan in a matter of days to "take up and conclude" the ninth economic assessment and free up a much-needed $1.1 billion bailout tranche.

The PM stated during a speech at the Hazara Electric Supply Company's inaugural event, "I spoke to IMF Managing Director Kristalina Georgieva [Thursday] and stressed that Pakistan wishes to conclude the IMF bailout package" (HAZECO).

I asked her to loosen the agreement's restrictions because the masses can no longer bear this load. The premier declared, "We have imposed taxes on the wealthy sectors of society.

"I also begged her to send a delegation for the ninth loan programme review, and she replied that IMF officials were going to visit Pakistan in a few days (2–3)."

The prime minister claimed that he had told the IMF representative that, in contrast to its predecessor, the current administration would uphold its obligations to the Fund without further burdening the general public.

Additionally, the premier cited the IMF representative as adding that China has pressed the Fund to assist Pakistan.