Pakistan committed for reform agenda, FinMin tells IMF

KARACHI: Finance Minister Muhammad Aurangzeb on Monday told the International Monetary Funds (IMF) delegation that Pakistan is committed to continuing the reform agenda, demonstrating its dedication to achieving long-term economic growth and prosperity, ARY News reported.

According to a statement issued here, a delegation of the International Monetary Funds (IMF) led by Nathan Porter, IMF Mission Chief called on Finance Minister Muhammad Aurangzeb and discussed further engagements in the future.

The finance minister expressed his gratitude for the successful completion of the Stand-By Arrangement. Muhammad Aurangzeb apprised the IMF delegation of the improvement in the macroeconomic indicators over the course of the SBA.

He reiterated the federal government’s commitment to continue with and expand upon the reform agenda.The meeting was also attended by Governor State Bank of Pakistan Jameel Ahmad, Chairman Federal Board of Revenue Malik Amjed Zubair Tiwana, and senior officers of the Finance Ministry.

Earlier in the day, it was reported that Pakistan is seeking a $6 to $8 billion bailout package from the international lender for three to four years to address its financial woes.

Sources privy to the development said Islamabad might have to take more tough decisions including increasing electricity and gas tariffs.

Briefing the IMF delegation, Muhammad Aurganzeb said the country’s economy has improved after the IMF loan package and Islamabad is ready to sign a fresh loan programme for further improvement.

The IMF mission expressed satisfaction with the steps taken by Islamabad for the recovery of ailing economy.