Daily Times

Advisor to the Prime Minister on Finance Shaukat Tarin Sunday said the government would give the nation “good news” about the stalled $6 billion International Monetary Fund (IMF) programme “soon”.

Addressing a ceremony in Karachi, Tarin said the IMF wished to announce the deal on its own, the media reports.

He said negotiations this time around, compared to March, had been “much better” and the government even refused certain conditions put forth by the IMF. He said the IMF programmes were “tough” on governments.

He said Pakistan could also expect a financial support package amounting to $3 billion from Saudi Arabia “in the next few days”.

Tarin said the government was working on a long-term strategy to strengthen economy on a sustainable basis. “We need progress that lasts 20 years, not five years,” he said.

Tarin said the government stood with the common man and was taking every possible measure to facilitate the vulnerable segments of the society. He reminded the nation that the government had launched Ehsaas Rashan programme, under which it will provide a discount of Rs1,000 a month, constituting a 30% subsidy on flour, pulses, ghee, and cooking oil per unit purchase, to 130 million people.

The government has also announced Rs1,400 billion in interest-free loans to 4 million households, he added.

Tarin said the government was focusing its energies on construction and agriculture sectors, besides industries, to ensure growth in all areas. He said significant growth in agriculture production had been witnessed the last year and the government was trying to increase revenue from 9% to 11% and was also looking to increase industrial exports. He said economic experts say the economy is lagging behind due to lack of savings and trade imbalances.