Daily Times

Pakistan has achieved 25 out of 26 targets set by the International Monetary Fund (IMF) for a second review, ARY News reported on Thursday, citing sources.

According to a report compiled by the finance ministry, Pakistan has achieved 25 targets of the international lender, the sources said and added that a report has been dispatched to the IMF. The condition set by the IMF not to take loans from the SBP was fulfilled, while the payment of the international loans was also made on time. Tax refunds and power sector pending payments were also made on time by Pakistan, the report said. The condition not to give tax amnesty and exemption was also met. The condition to jack up electricity and gas prices was also met. Pakistan is optimistic about completing the remaining target before the IMF team arrives in Islamabad, the sources said.

Separately, Prime Minister Anwaarul Haq Kakar said the caretaker government would hand over the national economy to the elected government in a ‘better’ condition. Chairing the federal cabinet at the Prime Minister’s Office, PM Kakar said that the caretaker government always gave priority to national interests while making policy decisions. “We believe in working together for national stability and development,” the prime minister said.

He said that the caretaker government has improved the national economy in a short period and leaving a useful strategy for the upcoming elected government. “The strategy would ensure public welfare and protect national interests,” PM Kakar added.

He appreciated and expressed gratitude to his cabinet members and the civil servants for their ‘tireless’ efforts during the short tenure of the government. Meanwhile, the federal cabinet expressed satisfaction over the steps taken by the caretaker government regarding the restructuring of various institutions, promotion of foreign investment, and providing facilities to businesses.

Among other agenda items, the cabinet, on the recommendation of the Ministry of Foreign Affairs, allowed Chief of Army Staff General Syed Asim Munir NI (M) to receive the “Turkish Armed Forces Legion of Merit” awarded by Turkiye in honor of his services regarding cooperation between the armed forces of Pakistan and Turkiye.

On the recommendation of the ministry of Finance, the cabinet also approved the extension of the deputation period of Lubna Farooq Malik as Director General of the Financial Monitoring Unit (FMU) from June 9, 2023, to June 8, 2024.

On Thursday, under Prime Minister Kakar’s leadership, the cabinet ratified a generous Ramadan Relief Package. The Rs. 7.49 billion package, approved by the ECC, provides essential support to Benazir Income Support Program (BISP) beneficiaries.