Country should learn how to live without the support of IMF: Ishaq Dar
ISLAMABAD, April 01 (SABAH): Minister for Finance and Revenue Senator Mohammad Ishaq Dar said that the country should learn how to live without the support of International Monetary Fund (IMF). He said that Pakistan did not come into being for default, adding that Pakistan’s foreign debt has been decreased by $4 bullion.
“We need to learn to live without IMF,” Ishaq Dar said this in a statement on Saturday. He said that all the prerequisite measures have been taken and an agreement with the lender would be reached soon and board meeting will also be held.
Ishaq Dar said that during the 2013 to 2018, $126 billion increased in the economy of the country; however during the last five years only $26 billion added in the economy of the country. He said that the efforts are being made to bring the forex reserves at $12 billion level till 30th June 2023. He said that Pakistan will make progress and deficit will be overcome, adding that the current account deficit of last 8 months is less then $4 billion.
Meanwhile Finance Minister Ishaq Dar says Pakistan has the full potential to be included in the 20 largest economies of the world.
Addressing the oath-taking ceremony of the Islamabad Industrial Association in Islamabad, Ishaq Dar said the role of the business community in this regard is instrumental.
The Finance Minister said that in 2016 Pakistan was among the 24 largest economies in the world.
The Finance Minister said that the negotiations between the government and the IMF are going well and it is expected to get positive news in this regard in the near future.
He also expressed his confidence on the business community and hoped that they would play their part in improving the economy.
He stressed that manpower exports, remittances, and foreign reserves have to be increased to restore the economy.
On this occasion, the newly elected president of the Islamabad Industrial Association Ahmed Waheed said that the formation of an industrial park is very important for industrial development.
He said that the business community should feel that the government is seriously committed to industrialization in the country.
On this occasion, the President of Islamabad Chamber of Commerce Ahsan Zafar Bakhtawari once again raised the demand for an industrial park in Islamabad and said that this is a long-standing demand of the businessmen of Islamabad.
Representative of Pakistan Federation Chamber of Commerce and Industry Sohail Malik also gave suggestions for the improvement of the country’s economy.