Business
'Positive outcome': FinMin says shared economic road map with visiting IMF mission
Says government policies and reforms are being ensured for economic stability
Islamabad: Finance Minister Muhammad Aurangzeb said on Sunday that the visit of the International Monetary Fund (IMF)’s mission to Pakistan was not a ‘surprise’ for the [government] and bilateral talks with the delegates remained positive and result-oriented.
Addressing a presser, the minister cleared speculations about the “unscheduled” visit of the IMF mission to Pakistan, saying there were no surprises as "we shared the country’s economic roadmap" with IMF officials.
The minister’s remarks came following the conclusion of a visit by IMF's mission led by Nathan Porter from November 12 to 15.
He made it clear that the IMF mission didn't say anything that we [the government] were not aware of already, so there were no surprises [at all].
The FinMin said the Fund and Pakistan were engaged in a continuous dialogue as "mutual credibility and trust" was built through bilateral talks.
There were reports that the delegation of the international financial institution (IFI)'s visit would mean that the Shehbaz-led government would have to roll out a mini-budget.
However, talking to a news channel, the finance minister assured that no mini-budget was forthcoming
Aurangzeb on Sunday further said the government was committed to building on the hard-earned macro-stability to further strengthen economy of the country.
He said the government's prudent economic policies have resulted in a reduction of inflation from 38 per cent to just seven per cent and the policy rate from 22 per cent to 15 per cent, while foreign exchange reserves have surged from two weeks of import cover to 2.5 months of import cover.
The Minister said the international community, financial institutions, and rating agencies have commended the government's efforts in leading the country's economy from deficits to surpluses.
Talking about the recent visit of the IMF delegation to Pakistan, he said it is an ongoing dialogue process, and discussions were held on energy and SOE reforms, the privatization agenda, and public finance.
He said such interactions and discussions are vital for mutual credibility and trust.
Muhammad Aurangzeb said we have shared with the IMF our commitment towards the rightsizing of the Federal Government.
Regarding revenue and taxation, he said the government is firm on compliance and enforcement and every sector will have to play its due role in this regard.
The Finance Minister also requested all the political parties, media, and other stakeholders to join hands for charters on the environment and economy to ensure a safe and healthy future for the coming generations.