Daily Times

Prime Minister Shehbaz Sharif on Tuesday said Pakistan will need to “work hard” for self-sufficiency and urged structural reforms following the revival of the International Monetary Fund (IMF) programme. The revival of the IMF programme was “critical” to the economy, tweeted PM Shehbaz. However, the economic stability brought by the IMF deal is just the beginning and “not an end in itself”, he added. “Pakistan must break out of economic straitjacket, which is only possible through structural reforms.” The IMF approved the $1.1 billion tranche for Pakistan on Monday and revived Pakistan’s bailout programme after a hiatus of six months, ending the uncertainty that multiplied over the past three days due to manoeuvring by the Pakistan Tehreek-e-Insaf (PTI). The premier also expressed that the resumption of the IMF programme is a major step towards getting Pakistan’s economy back on track and was the result of “excellent team effort”. The revival of the IMF programme was “critical” to the economy, tweeted PM Shehbaz. However, the economic stability brought by the IMF deal is just the beginning and “not an end in itself”, he added.