IMF Staff-Level Agreement Confirmed by Finance Minister

Web Desk | 5 months ago

The government has confirmed that an IMF staff-level agreement has already been reached, and this development is being seen as an important step for economic stability. According to the finance minister, the government is also preparing for an NFC Award meeting next week. The first priority is to continue reforms that support long-term growth and better financial management.

During a press conference in Islamabad, Finance Minister Muhammad Aurangzeb said that the government is fully committed to structural reforms. He explained that progress is being made in different sectors, and the reforms are helping to improve the overall performance of the economy. The minister stressed that these steps are necessary for a more stable financial future.

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Aurangzeb said that climate financing has become very important for Pakistan’s development plans. He added that improvement in the manufacturing sector is a positive sign. For sustainable growth, he said, the balance of payments and the current account must remain stable. He also mentioned that Pakistan’s exports have increased by five percent, which is a good indicator of progress.

The finance minister further said that the government wants to maintain the pace of economic improvement. He noted that the IT sector is showing monthly progress, while remittances are also increasing. According to him, the IT industry is performing strongly, and the government is encouraging private-sector participation to boost economic activities.

Aurangzeb added that a lower policy rate has helped reduce the cost of debt repayments, which will support future economic plans. He also announced that Pakistan is preparing to issue Panda Bonds soon as part of its financial strategy. He emphasized that the government is working under the “Pakistan First” agenda, and the recent IMF staff-level agreement will help keep this agenda on track.