Pakistan decides to say no to IMF, finally

Pakistan has so far been unable to get $3.4 billion under the current programme that will end on September 30. The prospects of IMF releasing the tranche are very bleak owing to the strain in Pak-US ties.According to sources, the government has decided to end all the agreements before the upcoming elections.Pakistan has got only $7.60 billion out of the $11 billion promised by the IMF, though it has carried out large-scale economic reforms, including a stricter tax regime, on prodding from the international donor. However, all steps have proven fruiteless at a time when Pakistan needed funds owing to its deteriorating economic condition marred by devastating floods in two consecutive years -- 2010 and 2011.