Pakistan government seeks $6 billion additional foreign reserves
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Minister of Finance, Shamsad Akhtar, has stated that in November, the IMF review will take place, followed by the next phase of monetary measures. There is no unexpected decrease in the value of the Rupee, and fast-tracking World Bank loans could help us receive a $6 billion bailout. Our main focus is on revitalizing the economy.
According to reports, after the apex committee meeting of the ISI, caretaker ministers provided a briefing. Finance Minister Shamsad Akhtar mentioned that they are shifting the burden of loans from banks to the capital market, working on devaluation, formulating State Enterprise policy, and activating cabinet committees. Shamsad Akhtar emphasized working as a team across all economic sectors.
Finance Minister Shamsad Akhtar also mentioned that there is no estimate of the size regarding smuggling in the country. Measures are being taken to curb currency and goods smuggling, and positive effects are expected from these actions. The value of the Rupee is stable, and an IMF review is expected in November. Fast-tracking World Bank loans could also facilitate economic recovery.
It is anticipated that a $6 billion bailout will come to the country, and our focus is on reviving the economy. We also aim to remove restrictions on imports. Information Minister Murtaza Solangi stated that practical measures are being taken to reduce government expenditures, promote investment in the country, combat smuggling, and address issues with international agreements by keeping them in effect.
