International Monetary Fund (IMF) Mission Chief Nathan Porter has expressed ongoing efforts to reach an early agreement with Pakistan and affirmed his commitment to continue negotiations with the Pakistani authorities.
The IMF has released an important statement regarding the staff-level agreement, wherein the mission chief has recognised and appreciated the recent efforts undertaken by Pakistan.
Porter said that the active endeavors are underway to reach an early agreement with Pakistan. He acknowledged that Islamabad has taken resolute measures to align its policies more effectively. There has been notable improvement in Pakistan’s economic decision-making and addressing the challenges of the debt program.
The approval of a budget by the parliament, which emphasises increasing tax revenue, is viewed as a positive stride. This step is expected to facilitate funding for Pakistan’s social sector.
Nathan Porter underscored that the surge in tax revenue will serve as a source of funds for development initiatives in Pakistan. He highlighted that a stringent monetary policy will contribute to controlling inflation, while enhancements in the foreign exchange market will alleviate balance of payment pressures. The negotiations between Pakistan and the IMF will persist as efforts continue towards mutual agreement and collaboration.
