Sheikh Reveals if IMF Will Offer Concessions for Dealing With Coronavirus

International Monetary Fund (IMF) has agreed not to incur additional expenditures of dealing with the coronavirus in the fiscal deficit, Advisor to Prime Minister on Finance Dr. Abdul Hafeez Sheikh said on Monday.

He said Prime Minister Imran Khan had tasked him of dealing with economic impacts of Coronavirus, adding that the government is able to get significant concession from the IMF for the prevention of coronavirus. He expressed these views during an informal discussion with the reporters in Islamabad.


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“We will be able to get concessions from IMF due to Coronavirus,” said the Advisor to PM on Finance. He also said that the costs incurring on prevention of Coronavirus will not be included in the country’s fiscal deficit.

“The government is working to development strategies to save economic activity and prevent shortages,” he said, adding that the government would also focus to control increased prices of food items.

He said controlling unemployment, compensation of farmers and maintaining export level are the next goals of the government. Sheikh said that there has been a loss of $1 trillion in global market due to Coronavirus.

Pakistan’s stock market had only fallen 10 to 11%. Talking about Coronavirus, the advisor said that financial and technical assistance will be sought from various countries and global financial institutions, as well as countries which had successfully dealt with the virus.

The salaries of government employees would see an appropriate increase in the upcoming budget, he added.