PM Shehbaz reiterates Pakistan’s resolve to complete IMF programme

ISLAMABAD: Prime Minister (PM) Shehbaz Sharif held a meeting with Managing Director of International Monetary Fund (IMF) Kristalina Georgieva in Paris and reiterated Pakistan’s resolve to complete the loan programme, ARY News reported.

According to a statement issued by Pakistan Muslim League-Nawaz (PML-N), the prime minister held a meeting with IMF Managing Director Kristalina Georgieva before leaving for London.

It was PM Shehbaz’s third meeting with the IMF chief, on the margins of the summit of world leaders on a new financing pact.

During the meeting, the premier appreciated the Managing Director IMF for taking into consideration the economic realities of Pakistan. “Pakistan is determined to fulfill all its commitments,” he added.

He said Pakistan valued the assistance of the world in coming out of its severe economic challenges. The floods in Pakistan further increased the economic difficulties but despite that, the government gave relief to its people, he noted.

PM Shehbaz said it was the right of the people of Pakistan to receive relief as economic challenges caused a lot of unbearable pain to people.

“We want a balance between relief to the people and economic reality,” he said adding bringing the economy back on the path of growth was imperative for meeting the targets set by the IMF.

The prime minister said important measures needed to be taken for restoring the economy that had been battered in the four years of the previous government, adding revival of the economy would help in better achievement of targets of the IMF.

He said as always Pakistan would fulfill its commitments and pledges made to the international community.

The Managing Director IMF appreciated the resolve of the Prime Minister.

Earlier in the day, Finance Minister Ishaq Dar said that the government has introduced a number of changes to its fiscal 2024 budget in a last-ditch effort to clinch a stalled rescue package with the international lender.

For the fiscal year starting next month, the federal government will raise a further Rs215 billion in new tax and cut Rs85 billion in spending, as well as a number of other measures to shrink fiscal deficit, he said.

The federal minister made it clear that this reduction would have no impact on the proposed development budget, the raise in salaries and pensions of the federal government employees.