Talks with the IMF for new long program to start in coming days: Finance Minister Aurangzeb

• IMF talks for new loan program to start in coming days.
• These talks are hoped to be last.
• Aurangzeb stressed on more private leadership.

Finance Minister Muhammad Aurangzeb on Monday said that discussions with the International Monetary Fund (IMF) for a new loan program, which is hoped to be the last, will initiate in the coming days.

While speaking on the importance of private sector during the Pak-Saudi Investment Conference, Mr. Aurangzeb emphasized the private business owners to take the lead by occupying the front-row seats with the support from the government form behind. He also said that private sector has huge responsibility of taking Pakistan’s economy further.

Mr. Aurangzeb reflected on numerous economic progressions observed in the previous 10 months. He conveyed a positive outlook for continued recovery and estimated that the current account deficit for the ongoing fiscal year would be under $1 billion.

He also said that the Pakistan Stock Exchange (PSX) was showing remarkable growth while the Pakistani Rupee (PKR) was stable throughout the period.

Finance Minister Aurangzeb also said that the Pakistan International Airline (PIA) will be completely privatized by June-July 2024 along with outsourcing of the Islamabad International Airport.

He stressed the importance of enduring solutions to economic issues, asserting that the government has a well-defined strategy for tackling them. He credited the ongoing economic stability to the federal government’s policies, which are designed with foresight and implemented effectively to ensure sustainable economic growth and stability.

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