ISLAMABAD – Prime Minister Shehbaz Sharif says the staff-level agreement with the International Monetary Fund (IMF) marks a significant milestone in further stabilizing Pakistan’s economy.
Chairing the Federal Cabinet meeting in Islamabad on Wednesday, he highlighted that the IMF program includes the Resilience and Sustainability Facility worth 1.3 billion dollars, alongside the seven billion dollars’ Extended Fund Facility, bringing the total to 8.3 billion dollars.
The Prime Minister praised the cabinet members and government officials for their commendable efforts in achieving 26 percent increase in the tax collection.
He acknowledged that reaching an agreement with the IMF is undoubtedly a remarkable accomplishment and a testament to the dedication of the government’s team. He, however, emphasized that it is a loan, and there remains a long journey ahead to eliminate debt and achieve self-reliance for Pakistan.
He highlighted the crucial role played by Chief of Army Staff (COAS) Gen Asim Munir in securing the deal, noting that provincial cooperation was instrumental in the process.
Shehbaz Sharif underscored that peace and the eradication of terrorism are essential prerequisites for the country’s development and progress.
He noted the inseparable link between peace and development and lauded the sacrifices rendered by security forces, law enforcement agencies, and the people of Pakistan in combating terrorism. He stressed the importance of boosting the morale of the security forces.
Talking about the Ramadan Package, the Prime Minister shared that 60 percent of the allocated 20 billion rupees has been disbursed through a transparent digital wallet system.
He also expressed appreciation for the posthumous conferment of the highest civilian award, Nishan-e-Pakistan, on former Prime Minister Zulfikar Ali Bhutto, in recognition of his contributions and services to the nation.
Besides, the Federal Cabinet offered fateha for the departed soul of the mother of Army Chief General Syed Asim Munir.
