Miftah Ismail gives credit to PM Shehbaz Sharif for IMF deal

ISLAMABAD: Former finance minister Miftah Ismail says credit goes to Prime Minister Shehbaz Sharif for International Monetary Fund (IMF) deal, ARY News reported.

As per details, Miftah Ismail said that the IMF deal miraculously saved Pakistan from default.

He said that the $3 billion IMF program will continue in the tenure of three governments including the current government, caretaker government, and new government after the election.

Miftah Ismail warned that there is no room for any mistake now and the government need to further increase electricity and gas prices. The IMF conditions must be implemented because it will help in the future deals with the IMF.

Read more: IMF approves $3bn loan for Pakistan

Earlier, the International Monetary Fund has approved a $3 billion loan for Pakistan after signing the staff-level agreement last month. The loan was approved by the Executive Board of the International Monetary Fund.

The International Monetary Fund directed to immediately disburse $1.2 billion while the remaining $1.8 billion will be scheduled in November and February in two installments after reviewing the policies.

The IMF executive board said that Pakistan has to strictly follow the policies which were finalized in the IMF deal and the target set in the budget should also be implemented.

The statement further read that Pakistan needs to keep the exchange rate on market based and the country needs to adopt strict monetary policy.

Prime Minister Shehbaz Sharif also thanked Managing Director (MD) of the International Monetary Fund Kristalina Georgieva after IMF executive board approved a $3 billion loan for Pakistan.