ISLAMABAD – Federal Minister of Finance, Muhammad Aurangzeb on Thursday said that reforms are inevitable to get rid of the IMF.
Speaking at an event in Islamabad, Muhammad Aurangzeb stated that under the leadership of Prime Minister Shehbaz Sharif, the country is moving towards economic stability and good news has started coming for the economy.
The statement comes after Fitch improved Pakistan’s rating.
He said that the new IMF loan program improved global confidence, and they are following the economic stability agenda. The central bank has reduced the interest rate.
Muhammad Aurangzeb said that the country would develop only through economic reforms, and the private sector needs to step forward.
The finance minister further said that the private sector is being encouraged to play a role in the economy.
Loss-making government-owned enterprises would have to be privatized, and efforts are being made to attract direct foreign investment, he added.
