Won't be the first time a country's rejected IMF or the World Bank outright -- even from the 1990s several countries in Southeast Asia went ahead with fiscal policies that later proved to be the right course of action, despite vehement protest and warnings from the big boys at IMF and WB.
Not saying they're necessarily evil. They do have a duty to warn and advise when a country is seemingly committing economic seppuke but I don't get the fear behind PK's move (if true). There are far bigger problems they need to solve on the ground. PK may have a power surplus but they need to fix their regional grids. Ask any Pakistani if they have ever went through an entire year without power cuts.