Prime Minister Shehbaz Sharif emphasized the need for Pakistan to break the cycle of repeatedly seeking aid from the International Monetary Fund (IMF). He referred to the latest three-year $7 billion aid package from the IMF as a crucial opportunity for the country to achieve economic stability and sustainable growth.
The IMF program, subject to approval by the IMF’s Executive Board, aims to strengthen Pakistan’s macroeconomic stability and pave the way for inclusive and resilient growth. This includes implementing reforms such as expanding the tax base and ensuring self-sustainability in public finance and energy sectors.
The Finance Minister highlighted the importance of structural reforms to achieve stability, while the PM urged a paradigm shift towards serving the public and acting in the national interest. The government’s commitment to improving tax collection, power sector viability, and SOE operations was also underlined.
This IMF deal signifies a crucial turning point for Pakistan’s economic future, signaling a concerted effort to address challenges and drive sustainable development in the nation.
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