ISLAMABAD – Prime Minister’s Advisor on Finance Dr Abdul Hafeez Shaikh hassaid that a loan programme has been finalized with International MonetaryFund.
In an interview with PTV on Sunday, he said Pakistan will get six billiondollars in three years, while an additional amount of two to three billiondollars may likely come from World Bank and Asian Development Bank on lessinterest rate.
Dr Abdul Hafeez Shaikh said the IMF programme will be implemented after itsformal approval from fund’s board. He said the agreement will improve debtsituation and sent a positive signal to the world to attract foreigninvestment.
The Advisor said that the IMF programme will provide an opportunity tobring structural changes to handle issues pertaining to loss making stateowned enterprises, exports, and to enhance revenue.
He said structural reforms and successful implementation of the IMFprogramme are vital for sustainable development and prosperity.
To a question, Dr Abdul Hafeez Shaikh said prices in some areas will haveto be increased to put Pakistan’s economy under some financial discipline.But, it would not affect common people in anyway.
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The Advisor said 216 billion rupees will be allocated for subsidy in powersector.
He said electricity consumers using less than 300 units will have no impactof enhanced prices.
Dr Abdul Hafeez Shaikh said allocation for social safety network underEhsas and BISP are being doubled for which 180 billion rupees will beallocated in the next budget to provide relief to the common masses.
