Islamabad, June 25, 2023 (PPI-OT): Former President of Islamabad Chamber of Commerce and Industry (ICCI) Dr. Shahid Rasheed Butt said on Sunday that the IMF, World Bank and other such institutions are promoting poverty and inequality in the world. Their aim is to increase the wealth and influence of Western countries by robbing the poor countries of their resources, he added.
Shahid Rasheed Butt said in a statement issued here today that because of the tactics of these institutions, five percent of the world's population has occupied eighty percent of the resources. The majority of the richest people in the world belong to a Western power, and the IMF is adopting every legal and illegal tactic to increase their wealth, he observed.
The business leader said that at present more than seventy countries, including Pakistan, are unable to pay their debts. Self-interested elites who can sell the country’s assets but cannot reduce spending control most of these countries.
Shahid Rashid Butt said that dozens of countries have been ruined by the IMF's policies and have been forced to abandon national integrity and interests. The ability of such countries to compete in the international market is lost, the economy falls, inflation increases and people's lives become more difficult.
In these situations, rich transfer their resources while intelligent people leave their countries and go to Western countries to increase speed of their development, which is a serious brain drain issue. IMF has never stopped any country from corruption and spending spree, but has always victimized the common people. This institution has never brought any country out of crisis, but has worsened their situation, so the sooner the country gets rid of it, the better it is.
For more information, contact:
Dr. Shahid Rasheed Butt
Consul General Ghana
Former President ICCI
Former Patron ICST
Tel: +92-333-5132199, +92-51-2822571