ISLAMABAD – Finance Minister Muhammad Aurangzeb has stated that a staff-level agreement with the IMF has been reached.
Speaking at a press conference in the federal capital, he said that the Pakistani economy is moving in the right direction and that developments over the past 4–6 weeks would be discussed.
He added that the staff-level agreement with the IMF has been finalized, emphasizing the importance of climate financing. He said progress is ongoing in the reform process, with the government implementing structural reforms, maintaining growth momentum, and achieving a 5% increase in exports.
The finance minister noted that exports are providing support to the economy, while improvements in the manufacturing sector are encouraging. He stressed that sustainable development depends on maintaining a balance of payments and a healthy current account.
Aurangzeb said the IT sector is showing monthly improvements, imports are being closely monitored, and remittances are also increasing. “Nothing happens overnight,” he added.
He noted that the Prime Minister has emphasized that the private sector will lead the country, and remittances for the current fiscal year are estimated to reach $41 billion. The government is actively encouraging private-sector initiatives.
The finance minister further stated that the Prime Minister has directed the removal of the Export Development Surcharge, and the cabinet summary for approval has already been sent. He said the reduction in policy rate has positively impacted debt repayment.
Aurangzeb also mentioned that Panda bonds will be issued soon, and a meeting regarding the NFC Award is scheduled for next week. He emphasized that the government will continue to advance the “Pakistan First” agenda, with progress on both structural and institutional reforms.
