December 2, 2020

IMF Delegation Held Meeting With The PM; Expressed Satisfaction Over Pak’s Efforts

economy challenges of Pakistan

The IMF delegation headed by the Director Middle East and Central Asia wing of the IMF Jihad Azour, held a meeting with the PM and his economic team on Tuesday 17th of September. The members of the IMF delegation expressed satisfaction over the progress made by Pakistan so far. The delegation would review the measures taken by the government regarding fiscal and trade deficit situation of the country, taxation system and other government economic policies. The delegation expressed satisfaction on the efforts made by the Pakistan’s officials. The IMF officials acknowledged the efforts of the government in bringing down the trade deficit and increasing revenues of the country, through expanding the tax base.

The officials of the IMF delegation noted that the country was showing signs of improvement just after three months of the bailout program and was reaching the targets set under the program. The PM thanked the delegation for acknowledging Pakistan’s efforts for improving the economy and highlighted the efforts put in by his team. He added that the government had to take tough decisions as the economy needed a major overhaul and that without the IMF program and help from other friendly countries, that would not have been possible. He said that he was conducting weekly meetings with his economic teams and added that the policies adopted by the government have produced results.

The PM highlighted the pro-business policies being adopted by the government to put the economy on track and ease the process of starting a business in the country. The IMF team appreciated the efforts of the PM and his team and appreciated their commitment for improvement s efforts.

The government had also formed a parliamentary panel, to address the inflation issue of the country. The panel along with its subcommittee of economic experts were of the view that the IMF program policies were having an adverse effect on the economy. Addressing this issue, Jihad Azour said that the program has been in effect only from the past three months and the policies cannot be changed in such a short time period.

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