Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb on Friday dismissed concerns about the International Monetary Fund declining the staff-level agreement, exuding confidence that “the lender will approve it next month”.
“Just like in the past, there is unnecessary noise about the staff-level agreement not being approved, but we are hopeful that the IMF board will give its approval in September,” Aurangzeb stated in an exclusive interview with a news channel.
Replying to a question, the top financial manager said that discussions with commercial banks regarding the provision of funds had been productive, and the improved ratings from international agencies had led to a favourable response from commercial banks.
“Last week, the talks with the Saudi Finance Minister were also positive, while the responses from China, Saudi Arabia, and the United Arab Emirates have also been encouraging,” Aurangzeb said, adding, “Our friendly countries will take the IMF into confidence through their executive directors.”
According to the finance czar, Pakistan requires external financing of $3 billion over the 37-month IMF programme, with $2 billion needed this year alone.
“There was noise then, too, that the IMF would not sanction it, and similar clamour was being raised about the SBA (Stand-By Arrangement)” he said.
“Like in the past, this time as well, the IMF board will greenlight the programme, hopefully in September. We are in discussions with the international lender every other day.”
To another query, the finance minister said the government was determined to collect taxes from traders.
“We are determined to collect taxes from traders and provide facilities in return.
