The Executive Board of the International Monetary Fund (IMF) will meet today to approve the $7 billion program for Pakistan.
It should be noted that the extended facility loan program was agreed upon between Pakistan and the IMF on July 12. The loan approval will improve economic and foreign exchange reserves in Pakistan.
Payment pressure on Pakistan will be reduced, and Pakistan will have to increase tax revenue for economic stability.
Earlier yesterday, while addressing the CPEC seminar via video link, Federal Finance Minister Muhammad Aurangzeb said that it is hoped that the loan program of 7 billion dollars will be approved in today’s board meeting of the IMF.
He said that the policy rate is decreasing, investors’ confidence is also increasing, the inflation rate is decreasing due to government measures, and inflation and interest rates have also decreased.
The Federal Finance Minister said that CPEC Phase Two will start, CPEC Phase One covered infrastructure and energy while CPEC Phase Two is based on the monetization of infrastructure.
A strong foundation for economic stability has been established, the private sector can develop the economy.
