Finance Minister Ishaq Dar has voiced his hopes to soon reach an agreement with the International Monetary Fund (IMF).
The country’s top finance official said during a seminar on “Reviving economic stability through the strengthening of Public Financial Management” that the government was hopeful of striking a deal with the lender in the coming days. Dar recalled that only his political party had previously completed an IMF program.
Dar stated that the country was facing numerous economic challenges and the process of preparing economic and fiscal frameworks for the fiscal year 2023-24 will start very soon.
He said Pakistan had faced similar economic challenges in the past but was successfully pulled out of the crisis. He claimed that economic mismanagement in recent years has completely reversed the country’s progress and further blamed the previous government for today’s chaotic inflation.
Given the challenges presented by the current economic situation, Ishaq Dar believes the upcoming budget will be a step towards pulling the country out of its economic quagmire.
Dar urged attendees to actively debate major economic challenges and develop policy recommendations and solutions for rekindling the economy. He also praised Pakistan’s development partners, which include the World Bank and the Asian Development Bank.