PM Shehbaz Sharif vows to honour IMF commitments

ISLAMABAD: Prime Minister Shehbaz Sharif said on Wednesday that Pakistan would fulfill its all commitments made to the International Monetary Fund (IMF) to secure a financing deal, ARY News reported.

Pakistan on Friday secured a $3 billion short-term financial package from the IMF, giving its economy some much-awaited respite as it teeters on the brink of default.

The deal, subject to approval by the IMF board in July, came hours before the current agreement with the IMF expires later the same day.

Addressing a ceremony in Islamabad, commemorating the completion of 10 years of the multibillion-dollar CPEC project, the prime minister thanked President Xi and the Chinese government for supporting Pakistan especially when it awaited the staff-level agreement with the International Monetary Fund (IMF).

PM Shehbaz Sharif hoped that the agreement would be given final approval during IMF’s board meeting on July 12.

“We need to work hard and save the poor people from inflation. Affluent need to play a role in this regard,” he said.

He pledged to fulfill the IMF conditions which were earlier violated by the previous government.

He also acknowledged the financial support by China including the rollover of its loans and mentioned the backing by Saudi Arabia, the United Arab Emirates, and Islamic Development Fund in helping Pakistan overcome its financial crisis.

PM expresses resolve to pursue CPEC with new vigor

The premier expressed the resolve to pursue the China-Pakistan Economic Corridor (CPEC) with new vigour and commitment by focusing on areas such as agriculture, special economic zones, Information Technology and exploration of natural resources.

The prime minister was confident that the CPEC would take a new turn with the incorporation of these vital sectors. The prime minister regretted that the previous government not only halted progress on the CPEC but also left no stone unturned to damage this relationship which is higher than the Himalayas. He, however, said that the present coalition government had made sincere efforts to further strengthen the relationship with China.

Recalling the initiation of work on the CPEC, back in 2013, PM Shehbaz said the mega project transformed the landscape of Pakistan

The Prime Minister commended the unstinted support of the Chinese leadership and companies for the CPEC. He also recognized the Chinese financial support to Pakistan in recent months.

The ceremony was attended by Finance Minister Ishaq Dar, Planning Minister Ahsan Iqbal, Information Minister Marriyum Aurangzeb and Chinese Charge d’Affaires Pang Chunxue.