It is noteworthy that the extended facility loan program between Pakistan and the IMF was finalized on July 12. Approval of this loan is expected to improve Pakistan’s economy and foreign exchange reserves, while also alleviating payment pressures on the country. For economic stability, Pakistan will need to enhance its tax revenue.
Earlier, during a video link address at the CPEC seminar, Federal Minister for Finance Muhammad Aurangzeb expressed hope that the IMF’s board meeting today will approve the $7 billion loan program. He mentioned that the policy rate is decreasing, which is boosting investor confidence, and government measures are contributing to a reduction in the inflation rate. Both inflation and interest rates have shown signs of decline.
Furthermore, the Federal Minister announced that Phase Two of the China-Pakistan Economic Corridor (CPEC) is set to commence. He explained that Phase One focused on infrastructure and energy, while Phase Two will be centered around the monetization of infrastructure. A strong foundation has been established for economic stability, and the private sector possesses the potential to drive the country’s economic growth.
For more information, you can visit the official government websites where detailed economic plans and updates are provided, showcasing Pakistan’s commitment to improving its economic situation and attracting foreign investments.
