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    Worst day for Israel as 24 soldiers killed in Gaza in signle day

    Israel says Hamas handed over body that’s not former hostage

    Hamas says body of captive Shiri Bibas “mistakenly mixed” with others

    Israel army identify bodies of four returned hostages

    Hamas hands over four hostages’ bodies, Isreal frees hundreds Palestinians

    Celebrations erupt in Gaza, Israel on news of deal to end two-year war

    Hamas releases two women hostages after Egyptian-Qatari diplomacy

    Hamas says it handed over list of Israelis, Palestinians for swap deal

    Worst day for Israel as 24 soldiers killed in Gaza in signle day

    Israel suffers heavy losses since Hamas’ Oct 7 retaliatory attack

    Hamas says body of captive Shiri Bibas “mistakenly mixed” with others

    Hamas refutes reports of accepting disarmament under Trump’s plan

    Cough Syrup Deaths Overseas Prompt US Crackdown on Toxic Testing

    India probes possible cough syrup link to deaths of nine children

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    Govt waves demurrage charges on containers docked at Karachi ports

    Hundreds of containers costs Rs.1bn daily stranded at ports due to Pak-Afghan tension

    FBR introduces new law mandating NOC for property transactions

    FBR extends Income Tax Returns deadline

    Petrol prices likely to increase up to Rs13 per litre

    Govt likely to drop fuel prices from October 16

    Electricity tariff raised more than double from 2023, report

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    Govt forms 13-member committee for making interest free economy

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    Saudi Arabia likely to invest $1 bn in Reko Diq Gold Project

    Pakistan secures $3.5 billion financing deal for Reko Diq project

    Pakistan, Malaysia sign 6 MoUs

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Home BUSINESS

Successfully conclude tasks pertaining to IMF, Ishaq Dar

Our team successfully transformed current account deficit into a surplus in past two months

Web Desk by Web Desk
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Minister for Finance and Revenue Ishaq Dar said on Wednesday that his team has successfully concluded the tasks pertaining to the IMF programme and is currently focused on finalising the remaining aspects.

Addressing an event in Islamabad, he confidently stated that Pakistan is not at risk of default. He highlighted the remarkable achievement of transforming the current account deficit into a surplus in the past two months, impressing renowned economists.

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While acknowledging the potential ease an IMF tranche could provide, he explained that the delay in the process is due to certain structural reasons. He said that the government’s aim is to complete the IMF programme by June 30, and expressed optimism about effectively addressing the prevailing circumstances.

The Minister highlighted the prevailing challenges faced by Pakistan. He underscored the country’s economic position, noting that in 2017, Pakistan stood as the 24th largest economy globally. However, he revealed that recent developments have resulted in a downward shift, as Pakistan now ranks 47th in the global economy.

Dar also urged collective efforts to restore Pakistan’s position as the 24th largest economy, emphasising the importance of working together towards this shared goal.

The financial czar further announced that Chinese banks have returned $2 billion to Pakistan, while Pakistan has repaid $5.5 billion to commercial banks. He expressed the view that the IMF review should have been conducted earlier but assured that the government’s team has already completed the necessary work for the programme.

Dar underlined the ongoing efforts to finalise the IMF programme, which is expected to conclude by June 30 and expressed hope that these measures will effectively address the current economic situation.

The finance minister went on to say that Pakistan faced a declaration of default in 2013. However, he expressed optimism that the current situation would be effectively managed, assuring that Pakistan would not default.

Tags: default riskIMFishaq dartasks

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Voice of Sindh is an initiative designed to uncover the untold stories of Sindh. It aims to preserve and promote the diverse culture, heritage, history, and traditions that make Sindh the bastion of pluralism and progress.

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