Prime Minister Shehbaz Sharif on Tuesday had a telephonic conversation with International Monetary Fund (IMF) Managing Director Kristalina Georgieva where he expressed hope that the lender will announce its decision on the current loan program in the next couple of days.
He reiterated his determination to achieve all pre-determined targets and goals for improving the country’s economic landscape via joint efforts.
The IMF MD acknowledged the efforts of Finance Minister Ishaq Dar and his team in completing the pending bailout program. She expressed the desire to see improvements in Pakistan’s economy and appreciated PM Shehbaz for his commitment to the cause.
The phone call came a few days after the lender underscored the necessity of modifying the budget 2023-24, stating that an agreement cannot be reached without some alterations which have already been shared with the Ministry of Finance.
In line with the conditions set forth in the recent IMF negotiations, the government has reluctantly agreed to contingency measures to increase tax revenue, but without any respite to help with the internal pressures, the austerity is expected to keep the economy on edge in the new fiscal year.
