In a telephone call with International Monetary Fund (IMF) Managing Director Kristalina Georgieva on Tuesday, Prime Minister Shehbaz Sharif expressed the expectation that the lender will soon make a decision about the ongoing loan programme.
He reaffirmed his commitment to working with others to collectively accomplish all set aims and goals for bettering the economic climate of the nation.
Ishaq Dar, the finance minister, and his staff worked hard to finish the ongoing rescue programme, which was recognised by the IMF MD. She emphasised her wish to see changes in Pakistan’s economy and thanked PM Shehbaz for his dedication to the cause.
A few days prior, the lender had emphasised the need of amending the budget for 2023–2024 and stated that without certain changes that have already been communicated with the Ministry of Finance, an agreement could not be achieved.
The government grudgingly agreed to emergency measures to boost tax income in accordance with the terms outlined in the most recent IMF discussions, but without any relief to reduce internal pressures, the austerity is projected to keep the economy on edge throughout the upcoming fiscal year.
