PM calls $1.3 billion IMF deal a major economic milestone
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Prime Minister Shehbaz Sharif has praised the successful agreement with the International Monetary Fund (IMF) for a $1.3 billion loan. He called it a major achievement for Pakistan’s economic stability. The deal will boost Pakistan’s foreign reserves to $8.3 billion.
In a Cabinet Committee meeting, the Prime Minister credited various government officials for their efforts in securing the deal. Despite concerns about new taxes, he emphasized that the agreement was made without imposing any additional burdens on the public.
The deal also highlights Pakistan’s strong tax performance. Tax collection exceeded IMF expectations, with a 10.6% tax-to-GDP ratio, the highest in four years. Reforms in the sugar sector helped collect an additional Rs12 billion in taxes, with plans to expand this model to other sectors.
Shehbaz Sharif also discussed efforts to support low-income families, such as the digital wallet system for the Ramadan package. He concluded by emphasizing the link between economic progress and security, reaffirming the government’s commitment to tackling terrorism.
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