PM Plays Down Economic Hardships And Hopes for Revival of IMF Deal This Month

Prime Minister Shehbaz Sharif has expressed hope that Pakistan would reach an agreement with the International Monetary Fund (IMF) in June and urged the country not to worry. While addressing a ceremony on Sunday, the prime minister stated that the government has effectively met all of the IMF’s conditions. He recalled his extensive dialogue with the IMF chief from last month when he promised to meet all loan requirements and provide the necessary budget details for the fiscal year 2023-24. The PM added that the nation was capable of overcoming all future economic issues if the IMF program was delayed any further. In response to a question, the prime minister said the coalition government had successfully rallied the international community behind Pakistan following the flash floods last year and organized a donors’ conference where friendly economies made pledges, saving the country from serious default risks. Regarding next year’s fiscal year budget, he said significant money was provided for agriculture and information technology sectors next year, adding that the budget will provide relief to the ordinary man and create more jobs. In response to a query, he said the country was going through difficult times due to high inflation, and floods displacing 33 million people and washing away crops and infrastructure, costing the state around $30 billion. Regardless, he expressed hope that the country would overcome these issues through collaborative efforts. He further said economic stability was not feasible without political stability and committed to leading the country toward greater progress and success.