Govt committed to reviving IMF programme & put Pakistan back on a sustainable growth path: Miftah Ismail

ISLAMABAD, May 26 (SABAH): Federal Minister for Finance and Revenue Dr. Miftah Ismail Ahmed has said that the government is committed to reviving the International Monitory fund (IMF) programme and put Pakistan back on a sustainable growth path. Miftah Ismail said he has just returned from Doha after talks with the International Monitory fund (IMF). Our delegation had very useful and constructive discussions with the IMF team over the last week, he said.

In a statement issued on twitter, Mifrah Ismail said that we discussed significant slippages in Financial Year 22, caused in part by the fuel subsidies given in February 2022. Miftah Ismail said that we discussed targets for Financial Year 23, where, in light of high inflation, declining forex reserves and a large current account deficit, we would need to have a tight monetary policy and consolidate our fiscal position. Thus government is committed to reducing the budget deficit in Financial Year 23.

Miftah Ismail said that the IMF team emphasised the importance of rolling back fuel and power subsidies, which were given by the previous administration in contravention of its own agreement with the Fund.