Islamabad: Federal Minister for Finance Miftah Ismail on Tuesday said that Pakistan no longer faced the threat of an economic default as the deal with the IMF is expected to complete soon, and as a result, Pakistan would get $2 billion from the lender.
Speaking at the “Turn Around Pakistan Conference” being hosted by the Ministry of Planning and Development in Islamabad, Miftah Ismail, however, did not rule out the predicted stress on the economy in the near future.
“We aim to reduce the primary deficit from 1600 billion rupees to 125 billion rupees surplus during the current fiscal year,” Miftah Ismail said.
Referring to the tough decisions taken by the government in order to meet the demands of the IMF and avoid default, he said that his government took difficult decisions and would not hesitate to take more difficult decisions in future as well in order to strengthen the economy.
He urged that every Pakistani should play their role and become a taxpayer to put the country’s economy on the right track.
Pakistan receives MEFP from IMF
Earlier on Tuesday, Miftah Ismail said Pakistan received a draft from the IMF that outlines targets to be achieved for the 7th and 8th reviews of its International Monetary Fund bailout programme.
Early this morning, the Government of Pakistan has received an MEFP from the IMF for combined 7th and 8th reviews.
— Miftah Ismail (@MiftahIsmail) June 28, 2022
This step indicates that the two sides have reached an agreement on key monetary and fiscal policies.
Read: Pak-IMF deal: Pakistan receives combined IMF targets draft; Miftah confirms
