PM Shehbaz goes for ‘another IMF program’

Prime Minister Shehbaz Sharif announced the government’s intention to pursue another program with the International Monetary Fund (IMF)

Islamabad on March 26, 2024, Prime Minister Shehbaz Sharif announced the government’s intention to pursue another program with the International Monetary Fund (IMF). He emphasized the necessity of this program for economic stability, acknowledging its limitations but stressing its importance.

Shehbaz Sharif highlighted the government’s commitment to fostering economic growth, generating employment opportunities, and tackling inflation.

Finance Minister Muhammad Aurangzeb also affirmed Pakistan’s plan to discuss an Extended Fund Facility (EFF) with the IMF in Washington next month, as the country faces economic challenges.

The current $3 billion arrangement with the IMF expires on April 11, with a staff-level agreement reached for the final tranche of $1.1 billion.

Addressing tax collection, Prime Minister Shehbaz Sharif prioritized creating a favorable environment for taxpayers, with plans to restructure and digitize the Federal Board of Revenue (FBR).

He praised top tax payers and announced initiatives to honor them, emphasizing the importance of private sector involvement in driving economic growth.

Shehbaz Sharif underscored the significance of reducing bureaucratic hurdles and called for collaborative efforts between the government and the private sector to ensure a robust economy.

He emphasized the importance of a strong economy in global recognition, urging expedited decision-making and collective action to overcome challenges and bring positive change to Pakistan.