Islamabad, 03 September 2024 (TDI): Prime Minister Shehbaz Sharif on Tuesday hoped for not going to IMF again in future saying the government is taking steps to fulfill conditionalities of the International Monetary Fund (IMF) to complete its loan program.
Addressing the federal cabinet meeting, the prime minister said, the government is fully taking steps for fulfilling the conditions.
“The conditionalities will be fulfilled and our case will be brought forward to the (Executive) Board for approval and, InshAllah, there will be a new journey,” Sharif said, while stressing hope that this would be the last (IMF) programme the country has to take.
He lauded government and state bank for their efforts for controlling inflation. According to state-owned PTV, the prime minister also commented on inflation reaching single digits in August.
Pakistan’s consumer price index (CPI) in August rose 9.6pc year-on-year (YoY), marking a 34 month-low, as per data of the Pakistan Bureau of Statistics (PBS).
“The journey is long, we have to move forward quickly. We have to bring stability and growth in the economy,” he stated.
In July Pakistan struck, 37-month loan program, agreement of $ 7 billion with IMF earlier, the premier had emphasised on the “long and difficult journey” Pakistan wanted to embark to avoid knocking on the doors of IMF again.
Earlier IMF in a statement had said, the programme, which needs to be approved by the IMF’s Executive Board, should enable Pakistan to “cement macroeconomic stability and create conditions for stronger, more inclusive and resilient growth.”
At the public level a reaction do exist over fulfilling all conditions of IMF. Few days back traders in Islamabad and other parts of the country observed shutter down against the government policies.
Layman in Pakistan is also not happy over historical high taxes, ever growing prices of commodities and property.
