KARACHI: Finance Minister Muhammad Aurangzeb announced on Friday that a meeting is scheduled for April 14 and 15 in Washington to discuss the new loan programme with the International Monetary Fund (IMF).
Speaking to the media at the Pakistan Stock Exchange (PSX) in Karachi, the minister stated that the meeting would address the features of the fresh programme, with detailed discussions to follow in Pakistan.
He reiterated the government’s plan to engage in a significant programme with the IMF, ensuring continued macroeconomic stability.
Prime Minister Shehbaz Sharif had previously indicated on March 21 that the new IMF programme is likely to extend over three years.
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“In the coming days, we expect to receive a new tranche of loans from the IMF, necessitating another programme,” he stated during a session of the Special Investment Facilitation Council’s (SIFC) apex committee, attended by civil-military leadership.
Regarding the agriculture sector, the finance and revenue minister noted a 5% growth, highlighting a bumper rice crop and positive news regarding wheat production.
He emphasized that the country’s current account is in a “better” state, with a “stable” exchange rate and a decreasing inflation rate. These achievements were attributed to the stand-by arrangement (SBA) agreement during PM Shehbaz’s previous tenure.
“The interim government has made significant strides in restoring the economy. With better economic policies, stabilization of the economy is imminent,” the minister stated.
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Aurangzeb informed the media about significant progress in outsourcing airports and privatizing the Pakistan International Airlines (PIA), stating that the government’s role is to provide a policy framework and support the private sector.
“Our strategy focuses on minimizing losses in the short and medium term,” he added.
The minister also highlighted a positive start to the economy in 2024, with improvements in key economic indicators. Efforts are underway by the Law Ministry and the Federal Board of Revenue (FBR) to curb tax evasion.
“The ministry aims to expand the tax base and enhance transparency and investor protection in the capital market. Collaboration with the capital market will facilitate small and medium enterprises’ access to capital,” he concluded.
(Islamabad51_Newsdesk)
