IMF deal sparks hope for economic stability: Zubair Motiwala
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The Businessmen Group (BMG) Chairman, Zubair Motiwala, Friday expressed his appreciation and welcomed the country's recent deal with the International Monetary Fund (IMF).
The agreement, valued at three billion dollars, is seen as a positive step towards the revival of the nation's economic prospects, as reported by 24NewsHD TV channel.
Elated by the successful agreement with the IMF, Motiwala expressed satisfaction at the prospect of breathing new life into the economy, trade, and industry. After enduring challenging circumstances, the nation now anticipates a much-needed respite and an opportunity for economic growth.
Motiwala extended his congratulations to the Prime Minister, Finance Minister, and Chairman of the Businessmen's Group for their efforts in securing this pivotal trade agreement.
With the IMF deal in place, the chairman expressed hope for restoring foreign investors' confidence, improving the value of the rupee, and experiencing positive impacts on the stock exchange.
One of the major outcomes of the IMF agreement, as noted by Chairman BMG, is the anticipated decline of the dollar towards its true value, which bodes well for the nation's economic equilibrium. Furthermore, it is hoped that this agreement will contribute to reducing inflation, interest rates, and the refinance rate, providing further relief to the people.
However, amidst the optimism, Chairman Zubair Motiwala also highlighted concerns within the business and industrial community regarding rising business costs associated with the IMF program recovery. He emphasized the urgent need for special attention to be paid to this issue to ensure sustainable growth and development.
In light of the agreement, Zubair Motiwala urged for the immediate release of sales tax refunds and DLTL funds to accelerate industrial activities and exports. Timely allocation of these funds will play a crucial role in driving economic progress and supporting businesses during these challenging times.
As the country sets its sights on a path of economic stability, the successful IMF deal represents a glimmer of hope for Pakistan's financial future. With concerted efforts and strategic allocation of resources, the nation strives to overcome economic challenges and steer towards growth and prosperity.