FinMin warns of strict measures against non-filers following IMF deal

Aurangzeb adds restrictions will “further hamper non-filers to carry out other activities”

IMF deal was the last, no more bailout package : FinMin stress on economic reforms

Cute: Aurangzeb claims friendly nations promised aid for bailout deal

Promises to alleviate load upon waged, industrial categories

ISLAMABAD: In the wake of International Monetary Fund (IMF) Executive Board’s approval for a $7 Billion Extended Fund Facility (EFF) by Pakistan, Finance Minister Muhammad Aurangzeb has in fact laid out plans to “place even more stringent conditions upon non-filers” that are “expected to constrain their capacity to execute various kinds of activities post-implementation.”

Washington announced the approval of Islamabad’s loan a day earlier, with it likely to release $1.1 billion as the first tranche of Pakistan’s loan by September 30, 2024.

The loan is priced with an interest rate of less than 5%, people in the Ministry of Finance say, and the IMF could start disbursing the younger part of Prime Minister Shehbaz Sharif meets Managing Director of the International Monetary Fund (IMF) Kristalina Georgieva on sidelines of the UNGA session in New York on September 26, 2024. — PIDPrime Minister Shehbaz Sharif meets Managing Director of the International Monetary Fund (IMF) Kristalina Georgieva on sidelines of the UNGA session in New York on September 26, 2024. — PID

He also appreciated the IMF’s technical assistance and capacity-building programs, which have helped strengthen the country’s institutions and improve its economic management.

The IMF managing director expressed the Fund’s support for Pakistan’s efforts and emphasised the importance of maintaining macroeconomic stability and promoting inclusive and sustainable growth.

During the meeting, they also discussed the urgent need to mobilise adaptation financing for climate change.

The prime minister agreed to have the finance minister take up this critical issue with senior management at the IMF during the Annual Meetings in October.

The two leaders also agreed to strengthen cooperation between the government and the IMF to promote economic stability and growth.

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