Prime Minister Shehbaz Sharif has expressed optimism that Pakistan will achieve an agreement with the International Monetary Fund (IMF) in June. He earnestly urged the nation not to be concerned, assuring them that progress is being made in the negotiations.
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PM’s Hope for IMF Deal Revival
During a ceremony held on Sunday, the prime minister affirmed that the government has successfully fulfilled all the conditions set by the International Monetary Fund (IMF). He recounted his substantial conversation with the IMF chief last month, wherein he made a commitment to fulfill all the loan prerequisites and supply the essential budget information for the fiscal year 2023-24.
In addition, the prime minister emphasized that if there were any further delays in the IMF program, the nation possessed the capability to successfully tackle all forthcoming economic challenges.
When asked, the prime minister highlighted the achievement of the coalition government in garnering support from the international community for Pakistan in the aftermath of the devastating flash floods that occurred last year. The government successfully orchestrated a donors’ conference where friendly nations pledged their support, thereby averting significant risks of default for the country.
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In reference to the upcoming fiscal year’s budget, the prime minister remarked that substantial funds have been allocated for the agriculture and information technology sectors. He further emphasized that the budget aims to alleviate the burden on the common citizens and generate additional employment opportunities.
In response to a question, the prime minister acknowledged that the nation is currently facing challenging circumstances, characterized by soaring inflation and the adverse impacts of floods that have displaced approximately 33 million individuals while causing substantial damage to crops and infrastructure, resulting in a cost of around $30 billion to the state. However, he expressed optimism that through collective endeavors, the country would overcome these obstacles.
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Furthermore, he emphasized that achieving economic stability is contingent upon political stability. He pledged his commitment to guide the country towards greater progress and success, recognizing the crucial connection between political stability and a thriving economy.