Karachi:IMF deal a good opportunity for economic revival: PIBC chief. Abid Nisar, Chairman of the Pakistan Indonesia Business Council (PIBC), has praised the agreement with the International Monetary Fund (IMF) as a crucial step towards the economic revival of Pakistan. He commended the efforts of Prime Minister Muhammad Shahbaz Sharif and Finance Minister Ishaq Dar.
Nisar also acknowledged the significant role played by Chief of Army Staff General Asim Munir in preventing Pakistan from defaulting. He emphasized that the Staff-Level Agreement with the IMF would be vital in overcoming the worst economic crisis.
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In a statement, the Chairman of PIBC expressed optimism within the business community regarding this agreement. He expected the government to utilize the funds in the right direction and focus on pulling the country out of economic crises, working towards self-sufficiency. Furthermore, gradual reduction of government expenditures was seen as the path to progress.
Nisar highlighted the significant growth in the stock market following the agreement and anticipated improvements in the business situation in the future.
He emphasized that Pakistan’s progress is directly tied to the growth of business and industry, as well as the well-being of the people. Therefore, it is imperative for the government to take necessary actions that promote business and industrial activities, creating dignified employment opportunities for the citizens.
“Pakistan’s progress is contingent upon the growth of business and industry, as well as the prosperity of the people. Therefore, it is imperative for the government to take necessary actions that promote business and industrial activities, allowing people to attain dignified employment opportunities.”
However, Nisar also urged the government to reduce electricity and gas tariffs and lower the policy rate to ensure smooth operations for businesses and industries, helping the private sector overcome liquidity challenges.