Pakistan willing bigger, long-term program from IMF

Islamabad: Federal Finance Minister Muhammad Aurangzeb said that they want to get a bigger and long-term program from International Monetary Fund (IMF).

Federal Finance Minister Muhammad Aurangzeb stated: “We will take commercial financing from the IMF and launch bonds, wholesalers, retailers, real estate and agricultural income will be brought into the tax net, there is a trend of reduction in inflation, interest rate will also be lower”.

He added that the era of depositing and rolling over funds from friendly countries is over, Special Investment Facilitation Council (SIFC) is the main platform for bringing in investments from abroad.

The Finance Minister continued to say that the reason for the IMF's conditions is lack of confidence, there is no obstacle in the last installment of the current loan program. The IMF has to give 1.1 billion dollars in the last installment of the loan program, if the program continues, economic order will be restored and discipline will remain.

He further said that the Prime Minister has a clear vision for the improvement of the economy. Transparency in the tax system is one of the top priorities of the government, the environment funding can also be discussed with the loan program from the IMF.

It is pertinent to note that the IMF mission is arriving in Pakistan today, the delegation will hold talks with the economic team from March 14 to 18 for the economic review.