PM content over approval of $1.1bn installment for Pakistan

Islamabad: Prime Minister Shehbaz Sharif Tuesday expressed satisfaction over the approval of final installment of $1.1 billion for Pakistan by the International Monetary Fund (IMF).

According to the details, Prime Minister said that receiving the installment of 1.1 billion dollars from the IMF will bring more economic stability in Pakistan. In 2016, Nawaz Sharif had completed the IMF program.

Shehbaz Sharif stated that now the second program of Standby Agreement (SBA) is being completed. This agreement with IMF proved to be important in saving Pakistan from default, the fruits of difficult decision are coming in the form of economic stability.

He added: “We will do our best to improve the economy, taking loans is not success, success will be the day we get rid of debt”.

Later, the Prime Minister praised the efforts of the entire economic team including Finance Minister Muhammad Aurangzeb.

He also expressed his gratitude to the Managing Director of IMF for supporting Pakistan in difficult times.

It is pertinent to note that yesterday the Executive Board of IMF approved the release of the last installment of 1.1 billion dollars for Pakistan under the Standby Arrangement (SBA).