$7 billion deal: PM hopes that all IMF requirements are met on time
Shehbaz Sharif, Pakistan’s prime minister, has stated that Pakistan intends to finish the present International Monetary Fund (IMF) program.
The prime minister told the federal cabinet on Tuesday, “Remember that this should be Pakistan’s last IMF program.” The PM emphasised throughout the meeting the necessity of continuing reforms to guarantee long-term economic stability and the government’s commitment to prompt fulfilment of IMF conditions.
He expressed optimism that the required steps to satisfy IMF requirements would be completed on time and said, “The case will soon go to the IMF board, and after approval, we will embark on a new journey.”
Shehbaz addressed the gathering, “Measures are being taken to meet the conditions of the IMF program,” emphasising the need to quicken the pace of gains that have already begun and declaring that Pakistan is progressively approaching economic recovery.
The people were given assurances by Prime Minister Shehbaz Sharif that Pakistan had ample resources and is capable of surmounting its difficulties. “I’m confident we’ll make it to our goal. He acknowledged that the road is challenging but not unachievable, saying that “nations have changed their fortunes through hard work.”
The prime minister observed that enormous adversity frequently results in notable advancement, reflecting on the challenges faced by other great nations. In addition to stressing the need of stopping smuggling and eliminating corruption in revenue collection, he underlined the gravity and resolve of the government’s efforts to stabilise the economy.
In order to cut back on needless spending, Prime Minister Sharif also demanded that the government expedite its right-sizing and downsizing projects. “We should push ahead with cost-cutting measures,” the PM emphasised.
Congratulating Finance Minister Ishaq Dar and other officials on their work in managing the economy, he asked the pertinent agencies to accelerate cost-cutting initiatives.
With the inflation rate dropping to 9.6% in August, he also emphasised a promising trend in inflation reduction. He indicated a slow recovery in the economy when he added, “The burden of inflation is gradually easing.”
To sum up, Prime Minister Shehbaz Sharif stressed the importance of proceeding swiftly with economic change, saying, “The journey is long, but with collective effort and determination, we can achieve our goals.”