PM Shehbaz Confirms Efforts to Implement IMF Mandated Reforms

ISLAMBAD: Prime Minister Shehbaz Sharif announced that his government is actively working to meet the conditions set by the International Monetary Fund (IMF) to secure a loan program. He expressed hope that this would be Pakistan’s last loan program, emphasizing the government’s commitment to implementing reforms and achieving economic stability.
During a federal cabinet meeting, PM Shehbaz stated that the government is diligently working to fulfill the IMF’s conditions, which will be presented to the Executive Board for approval. He acknowledged the challenges but remained optimistic, citing the reduction in inflation rates as a positive sign.
Pakistan’s consumer price index (CPI) decreased to 9.6% in August, a 34-month low, indicating a gradual reduction in inflation. The PM commended the Ministry of Finance and the State Bank of Pakistan for their efforts.
The IMF loan program, worth $7 billion over 37 months, aims to stabilize Pakistan’s economy and promote growth. The government has committed to implementing reforms, including broadening the tax base, to prevent future reliance on IMF loans.
In summary, PM Shehbaz Sharif is confident that his government’s efforts to meet IMF conditions will lead to economic stability and growth, making this loan program Pakistan’s last.