Positive talks with IMF underway Economic situation to improve soon: Miftah

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Federal Minister for Finance and Revenue Miftah Ismail said here on Friday that talks were underway with International Monetary Fund (IMF) and expressed the hope that there would be a turnaround in country’s economic situation very soon.

In a tweet, the federal minister said that the country’s current account deficit (CAD) during the month of April has come down to $623 million, less than half of the average for the first nine months of the fiscal year 2021-22.

“The Current Account Deficit for April came in at $623 million, less than half the average for the first 9 months of the fiscal year. This is a very good sign for external stability. With positive IMF talks underway, we expect a turnaround in the economic situation very soon,” he tweeted.

The minister thanked the foreign multinationals that operate in Pakistan and pay a large amount of taxes, provide employment and bring in technology.

He requested all of them to present a plan to export out of Pakistan also and offered to give them tax breaks for that.

“I am truly grateful to all the foreign multinationals that operate in Pakistan, pay a large amount of taxes, provide employment and bring in technology. However I request all of them to present to me a plan to export out of Pakistan also. I will give them tax breaks for that,” he tweeted.—APP

 

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