In a telephone conversation with International Monetary Fund (IMF) Managing Director Kristalina Georgieva on Tuesday, Prime Minister Shehbaz Sharif expressed the hope that the lender would soon make a decision regarding the current loan program.
He reaffirmed his commitment to working with others to collectively achieve all set targets and goals for enhancing the economic climate of the nation.
Ishaq Dar, the finance minister, and his team worked hard to finish the ongoing bailout program, which the IMF MD recognized. She expressed her desire for the economy of Pakistan to improve and thanked PM Shehbaz for his dedication to the cause.
A few days prior, the lender had emphasized the importance of amending the budget for 2023–2024 and said that without certain changes that have already been shared with the Ministry of Finance, an agreement could not be reached.
The government has reluctantly agreed to emergency measures to boost tax revenue in accordance with the terms outlined in the most recent IMF negotiations, but without any relief to ease internal pressures, the austerity is expected to keep the economy on edge in the upcoming fiscal year.
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