Pakistan’s Financing Needs for FY23 Fully Met: Minister

The Minister of State for Finance Dr. Aisha Ghaus Pasha, stated on Monday that Pakistan’s external financing needs have been fully met for the financial year 2022-23 (FY23). Addressing a ceremony, the minister said that besides the International Monetary Fund (IMF), friendly countries have also helped Pakistan meet its financing needs. She said that Pakistan still faces numerous economic challenges but it has avoided the risk of default, and added that a lot of work is still required to sustain economic stability. The minister said that structural reforms are needed for sustained growth, and emphasized that Pakistan needs to reduce its dependence on foreign loans to become self-reliant. Dr. Pasha added that there is an urgent need to promote tax culture in the country while economic and social security are equally vital for any country.