Current IMF program will be last: Finance Minister

Islamabad: Finance Minister Senator Muhammad Aurangzeb says that economic reforms in Pakistan have reduced inflation and the current loan program of the International Monetary Fund (IMF) will be the last program.

Speaking in an interview with a foreign newspaper, Finance Minister Aurangzeb said that Pakistan's credit rating and sovereign credit ratings have improved after the bailout package from the IMF, and the situation on the ground is much better than seen in the media.

He stated that economic reforms in Pakistan have reduced inflation and the current program will be the last IMF program.

Finance Minister Muhammad Aurangzeb added that Pakistan is ready to access China's financial markets. CPEC is an important step to further strengthen Pak-China relations. The listing of the Pakistani-Chinese joint venture in Hong Kong is expected, while security measures are underway for Chinese citizens in Pakistan.

The federal minister further said that Pakistan is ready to access its yuan bond market and encourage corporate stock listings in Hong Kong, while the initial issuance of Panda Bonds is also expected by the end of the current fiscal year.