ISLAMABAD – The cash-strapped country sought Washington’s support inreviving the crucial International Monetary Fund programme.
Deputy Assistant Secretary of the US Department of the Treasury for AsiaRobert Kaproth called on Federal Minister for Finance Ishaq Dar onWednesday and Pakistan’s Finance Chief briefed Kaproth on the economicoutlook of the South Asian nation.
Reports in local media suggest that Dar told US Treasury officials thatIslamabad would honour all its pledges and was in the process of takingtough decisions, including increasing the gas and electricity tariff to putthe country of over 220 million back on track through reforms.
Dar however mentioned that ‘Pakistan required breathing space’ citing theworst floods of 2022 that wreak havoc across the country.
He apprised the visiting members that reforms were being introduced in allsectors, including energy and capital market, to enhance economic growth.Dar also explained that the Pakistani rupee was also under pressure becauseof the smuggling of US dollars to neighboring Afghanistan and Iran.
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Commending the stringent measures taken by the incumbent government, Darassured that the country was destined for progress and development. He alsobriefed Robert Kaproth and the delegation about the damages caused bydeluges and their impact on the economy.
Meanwhile, the US Treasury official Robert Kaproth highlights good tiesbetween Islamabad and Washington and assured his support and cooperation onissues.
