ISLAMABAD: Rana Ihsan Afzal Khan, the prime minister’s coordinator for commerce and industry, said on Wednesday that the Pakistan Democratic Movement (PDM)-led government was working hard to stabilize the economy and provide a solid foundation for the future government with its effective policies.
He said that the uncertainty was ended after a successful IMF agreement, adding that the government had to make unpopular and severe decisions to bring the country out of the present economic mess.
IMF programme crucial for economy
He said that Pakistan’s participation in the IMF programme was crucial because it would help the country to maintain financial stability.
In response to a query, he said that the Pakistani rupee had also seen a big increase in value against the US dollar in the interbank market and that the IMF’s first payment of $1.1 billion would be made in July.
Later this month, Pakistan would receive $1 billion from the United Arab Emirates (UAE) and $2 billion from Saudi Arabia, Afzal said.
He added that the current account deficit and core inflation would decline by the end of the year.
APP—
