Federal Finance Minister Muhammad Aurangzeb has stated that Pakistan is willing to take a bigger and longer program from the International Monetary Fund (IMF). In negotiations with the IMF, the blueprint of the Extended Fund Facility program and the possibility of stabilizing it will also be considered.
Muhammad Aurangzeb has also mentioned that commercial financing will be sought and bonds will be launched. Wholesalers, retailers, real estate, and agricultural income will be brought into the tax net to increase revenue. The government is committed to reducing inflation and interest rates.
The era of depositing and rolling over funds from friendly countries is over, and the government is now focused on bringing in investments from abroad through the Chika, SIFC platform. The finance minister has acknowledged that price hikes are a major issue and that only macroeconomic stability can help bring them down. Pakistan has requested the IMF to complete the second review under the standby program so that the final tranche can be issued. The finance minister has categorically stated that Pakistan will request the IMF to start negotiations for a fresh bailout package under the EFF at the April meeting of the IMF and the World Bank. The privatization agenda will be implemented, and public-private partnership must be implemented for the public sector development program.
