The International Monetary Fund (IMF) is likely to approve the revival of the $7 billion program in the third week of August during its Executive Board Meeting.
This was revealed by Minister of State for Finance, Dr. Aisha Ghaus Pasha, while talking to ProPakistani.
The minister said that the Executive Board meeting of the IMF will be held between 15-21 August, during which the program is most likely to be approved. The Board will meet after the holidays, ending on 15 August, to make the final decision on the program. She optimistically revealed that the funds would be released immediately during the day of the meeting.
Dr. Aisha explained that the recent depreciation of the Pakistani Rupee was caused by the political situation. The political circumstances in Pakistan are uncertain, and with the prevailing situation, everything is affected, especially the economy, she said.
Seconding the statement earlier given by the Federal Minister of Finance and Revenue, Miftah Ismail, she claimed that the government had managed to arrange the external financing needs of the country. She disclosed the names of countries that are helping Pakistan meet its external financing and said that Saudi Arabia, UAE, China, and some other friendly countries will provide the funds. Saudi Arabia is going to provide oil on deferred payments, she added.
Discussing the issue of the appointment of Governor State Bank of Pakistan (SBP), she stated that the government was working on the appointment and a new Governor of the state bank would be announced soon.
