Talks with IMF: People wont be burdened anymore, says Shamshad
By News Desk
November 13, 2023 11:28 PM
Caretaker Finance Minister Dr Shamshad Akhtar has said the people will not be burdened anymore, 24NewsHD TV channel reported on Monday.
Talking about the negotiations between the government and the International Monetary Fund (IMF), she said the federal government will adopt a policy of austerity to control the budget deficit.
Discussions with the IMF are progressing positively and the fund has full confidence in the caretaker government, she said, adding that the IMF expressed satisfaction with the Benazir Income Support Programme.
Finance Minister Dr Shamshad and the IMF’s mission chief for Pakistan, Nathan Porter led their sides to the opening round of two-week-long negotiations to discuss the next tranche based on Pakistan’s performance in the first quarter.
According to the finance ministry, Porter praised the government’s commitment to meeting the first-quarter targets and measures taken in some critical areas.
The mission chief underscored the importance of continuing these efforts to stay on track to ensure the country’s economic stability.
The minister reported Pakistan’s official position on the progress made so far on the $3 billion short-term loan agreement and explained the fiscal measures being taken to improve the economic situation.
These measures included a tight control on expenditures, both in terms of restricting the development programme and reducing subsidies and provincial fiscal controls, more than the programme’s requirements for the first quarter of the fiscal year, resulting in higher-than-targeted primary surplus and non-revenue collections.