Pakistan is aiming for a larger, more extended IMF program: FM

ISLAMABAD: Federal Finance Minister Muhammad Aurangzeb has outlined plans for Pakistan to pursue a larger and more extended program with the International Monetary Fund (IMF).

Minister Aurangzeb expressed Pakistan’s intention to seek a substantial program aligned with its quota within the IMF framework.

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Emphasising the multifaceted approach towards economic revitalisation, Minister Aurangzeb highlighted the potential inclusion of environmental funding within the IMF loan program discussions, underlining the government’s commitment to addressing pressing environmental challenges alongside economic reforms.

In a bid to bolster the country’s fiscal position, Minister Aurangzeb unveiled ambitious targets, aiming to elevate the share of taxes in the national income to 10 per cent. Moreover, he underscored the importance of transitioning towards digital tax collection methods, affirming the government’s commitment to enhancing transparency within the tax system.

Addressing concerns over the nation’s economic stability, Minister Aurangzeb stressed the convergence of objectives between the IMF and the government, asserting that both entities share a common goal of fostering economic stability and growth.

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Providing assurance regarding the current IMF loan program, Minister Aurangzeb asserted that there are no impediments to the disbursement of the final installment. He further highlighted the significance of maintaining continuity in the IMF program, noting that it serves as a crucial catalyst for promoting economic discipline and sustainability.