Rightsizing plan shared with IMF, says finance minister

Federal Finance Muhammad Aurangzeb said on Sunday the IMF programme is Pakistan’s programme and there is nothing secret about it.

Addressing a press conference in the federal capital Islamabad, Aurangzeb talked about the recent visit of an IMF delegation to Pakistan and the issues that were discussed during the meetings. He said that nothing was being done against Pakistan’s national interest and IMF was in fact helping, funding and supporting Pakistan’s economic programme.

He said that Pakistan is holding talks with the IMF, World Bank and other stakeholders in the United States as it is an ongoing process. He said that Pakistan is preparing a homegrown agenda to take its macroeconomic plan forward and it would be shared with the stakeholders soon. He said the economy is moving in the right direction due to the government’s policies.

He said that Pakistan’s foreign exchange reserves are sufficient for the next two-and-a-half months. He said that Pakistan has achieved macroeconomic stability and it will be strengthened in the coming months. He said that inflation has decreased and the interest rate has been cut considerably. He thanked all the four chief ministers for their cooperation during IMF delegation’s visit to Pakistan.

The finance minister said that tax net is being expanded. He said that Pakistan has to be very firm on compliance and enforcement when it comes to revenue and taxation matters. He said there was no other option and all sectors, including real estate, agriculture, manufacturing and salaried class, will have to make their contribution to the economy.

Aurangzeb said the federal government would do rightsizing in all ministries and the plan in this regard has been shared with the IMF. He said the government has already held discussions with 11 ministries in this regard and he would hold a separate discussion on this issue. He said that charter of environment is need of the hour. He said that Pakistan’s population is growing at an alarming rate and the country is facing issues like stunted growth. He said that Pakistan has announced a climate emergency in the country. He also discussed issues like agricultural growth, environmental pollution and climate resilience during the press conference.