Tag: structural reforms
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Pakistan on verge of finalising $7 billion IMF loan deal, FinMin updates on progress
Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, announced on Tuesday that the government is nearing the finalisation of external financing assurances, a crucial step toward securing the $7 billion loan from the International Monetary Fund (IMF).
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IMF mission holds crucial talks with FinMin Aurangzeb on $3 billion SBA
In a pivotal meeting held on Thursday, Pakistan’s Finance Minister, Muhammad Aurangzeb, engaged in discussions regarding structural reforms and the viability of the energy sector with the visiting International Monetary Fund (IMF) mission.
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World Bank greenlights $350 million for Pakistan’s fiscal reforms
World Bank gave its approval on Wednesday for a financing package of $350 million to support Pakistan’s fiscal and competitiveness reforms.
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Pakistan plans to secure $4.5 billion from diverse sources in current fiscal year
Caretaker Minister for Finance, Dr Shamshad Akhtar, has outlined Pakistan’s financial projections for the current fiscal year (2023–24), highlighting an anticipated mobilisation of approximately $4.5 billion from both multilateral and bilateral sources, excluding the International Monetary Fund (IMF).
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Finance Minister envisions Pakistan’s economy soaring to $2 trillion by 2047
Dr. Shamshad Akhtar, the Caretaker Finance Minister, emphasized Pakistan’s significant economic potential, stating that the country could achieve a $2 trillion economy by 2047, as per a World Bank report.
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IMF delegation to evaluate Pakistan’s economic performance during November visit
The International Monetary Fund (IMF) is gearing up for a vital visit to Pakistan next month, scheduled for November. The purpose of this visit is to assess Pakistan’s economic performance, particularly focusing on the period from July to September.
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Load shedding and unbearable hike in electricity prices hit Pakistani homes and businesses
Pakistan is facing an ongoing and unbearable increase in electricity tariffs, causing hardships for the majority of the population. The government justifies these price hikes by claiming they are under pressure from the International Monetary Fund (IMF) to generate more revenue. However, the tariff increase is mainly due to fuel price adjustments and high taxes…
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ADB recommends targeted subsidies and tax reforms for Pakistan’s economic recovery
The Asian Development Bank (ADB) has recommended that Pakistan implement targeted subsidies to alleviate inflationary pressures and improve the tax-to-GDP ratio in order to emerge from the current state of economic uncertainty.