Dr. Shamshad Akhtar revealed that an IMF delegation is scheduled to visit Pakistan on November 2, affirming that the IMF program remains on track. The government has been diligently implementing measures aimed at bolstering the country’s economy, and upon the receipt of the IMF tranche, further inflows from international financial institutions are anticipated.
Finance Minister Dr. Shamshad Akhtar shared these encouraging views during her address to industrialists at the Korangi Association of Trade and Industry.
In a significant economic development, Pakistan’s tax collection has surpassed its targets, and for the first time in 14 months, notable growth in the large-scale and power sectors has been recorded.
Akhtar underscored that the current account is showing improvement due to the government’s proactive initiatives, and she clarified that the State Bank, not the Ministry of Finance, determines the interest rate. She expressed her awareness of the industry’s concerns and affirmed her commitment to addressing industrialists’ grievances on all fronts.
The Finance Minister also disclosed that an economic recovery plan, as directed by the Prime Minister, is in the works and will be executed in
the near future. The plan includes efforts to activate the Export-Import Bank, with the overarching goal of fostering sustainable growth led by the private sector. Small-scale industries are seen as pivotal players in driving economic recovery. The Pakistani Rupee has appreciated against the US dollar in interbank markets, while law enforcement agencies have been instrumental in curbing smuggling and illegal gambling.
