Finance Minister Muhammad Aurangzeb Thursday said that reforms are inevitable if the country is to get rid of the Washington-based lender.
“Reforms are essential to get rid of IMF […] the country will develop only through economic reforms,” Aurangzeb said while speaking at the groundbreaking ceremony of the head office of the Securities and Exchange Commission of Pakistan in Islamabad, adding that the private sector is being encouraged to play a role in the economy.
Highlighting the role of the private sector, Aurangzeb said that it has to come forward and is being encouraged to play their role in the country’s economy.
Aurangzeb stated that the country’s economic condition cannot be improved by relying on foreign loans.
Aurangzeb highlighted the importance of implementing reforms while remaining within the IMF programme and adhering to privatisation policies.
The finance minister also pointed out the need to reduce reliance on banks and foreign borrowing.
