ISLAMABAD – Federal Minister for Finance Muhammad Aurangzeb who assumed charge of his office said on Tuesday that International Monetary Fund (IMF) program is inevitable for Pakistan.
Finance Minister Muhammad Aurangzeb stated that the current fiscal year would be challenging, and Pakistan would soon formally request important negotiations with the IMF.
He said that it is expected that staff-level negotiations would commence next week as participation in the IMF program is unavoidable.
The minister also said that all efforts would be made to utilize all energies to address Pakistan’s prevailing challenges.
It is noteworthy that the federal cabinet approved the request of Finance Minister Muhammad Aurangzeb to regain Pakistani citizenship.
Finance Minister Muhammad Aurangzeb also resigned from the position of Chief Executive Officer of a private bank and the presidency, where he had been serving since April 30, 2018.
Besides it, Finance Minister Muhammad Aurangzeb will visit America from April 15 to 20.
It is said that the finance minister will attend the annual ministerial meetings of the IMF and the World Bank in Washington.
The ministerial meetings are scheduled from April 17 to 19, and Muhammad Aurangzeb will lead the Pakistani delegation in the meetings.
The Governor of the State Bank, the Secretary of Finance, and senior officials will accompany the finance minister.
