Poor Pakistanis worry IMF bailout measures risk stark future

By MUNIR AHMED
Associated Press

ISLAMABAD (AP) — Economists say cash-strapped Pakistan’s latest plan for economic recovery is likely to take a painful toll on its poor. The impoverished country this week hiked the prices of gas, petrol and electricity. On Friday, the Parliament began a discussion on a bill to impose new taxes in hopes of getting $1.2 billion from the International Monetary Fund. The looming austerity measures are causing many working Pakistanis who are struggling with rising prices as well as the fallout from massive floods last year to worry that jobs will be cut. Experts say over 20 percent of Pakistanis already live in poverty.