Shaukat Tarin said that Pakistan became economically stable because of the loans provided by IMF
ISLAMABAD : Minister for Finance and Revenue Shaukat Tarin on Thursday said natioanal economy had solidified owing to IMF program.
“Pakistan wantsa to end IMF 50 years loan through ESG bond and trade”, he said this during an interivew to Bloomberg.
He indicated that economic growth rate will remain below five percent this year. This will stay between 4.5 percent to 5 percent in economic development 2021-22. The economic growth is likely to increase upto 6 percent in next fiscal year, he claimed. ,
He pointed out electricity demand rose 13 percent. Corporate profit is touching record high level. The loans for agriculture sector and private and housing finance proped up the economy. Exports and remittances are on rise. Collection of revenue rose over 32 percent.
He underlined “ Prime Minister (PM) Imran Khan has said there is need to break the begging bowl. Pakistan wants to repay the 50 years old IMF loan.
We want to scale down the deficit on the way to sustainable economic development. We have set target to bring GDP to 5,25 percent in the next budget. Increasing GDP is aimed at accelerating the pace of economic growth of the country. If we kick start balanced deleopkment then we will no more need IMF program.
We have agreed upon re-launching 6 billion dollars loan program. Pakistan has taken steps to meet the conditions of loan.
He disclosed IMF program was stood deferred since 2019. PM is strongly opposed to IMF bail out program, he added.
