IMF bailout package to stabilize economy: Iftikhar

SAARC Chamber of Commerce and Industry former President Iftikhar Ali Malik said much needed International Monetary Fund (IMF) bail-out package will help implement structural reforms, reduce fiscal deficits, control inflation, and facilitate the balance of payments besides stabilizing the economy and improve its long-term prospects. In a news statement issued here, he congratulated Prime Minister Shehbaz Sharif and Finance Minister Ishaq Dar for making the best possible efforts to secure the much-delayed IMF program aims to address economic imbalances, strengthen the fragile economy, and restore investors’ confidence. He said increased foreign exchange reserves provide a boost to Pakistan’s foreign exchange reserves which he added can help restore confidence in the country’s ability to meet its international obligations and provide a buffer against external shocks.