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Business & Finance

Completion of IMF program necessary for Pakistan, says Azhar

  • He said that despite the economic stability, it was necessary to complete the IMF program.
28 Nov 2020

Federal Minister for Industries and Production Hamad Azhar said that if the government price of electricity had to be increased, they would do so.

Talking to a private channel Hamad Azhar said that the government was in talks with the International Monetary Fund (IMF) and the IMF program would be revived as soon as the opportunity arose.

He said that despite the economic stability, it was necessary to complete the IMF program. The minister said that they would try to increase the price of electricity to a minimum, but if the need is the rates will be increased.

Last week, the Ministry of Finance on Saturday clarified that Pakistan was closely engaged with the International Monetary fund (IMF) to bring the review work to completion without delay.

In a tweet, the ministry dispelled the erroneous impression conveyed by an article published in Financial Times regarding Pakistan’s IMF programme.

“We would like to dispel the erroneous impression conveyed by an article in @FinancialTimes regarding Pakistan's IMF Program.

“The contention in the article appears to derive from the personal views of some individuals, while the actual position was never solicited from the Govt….In this context, it is clarified that Pakistan is closely engaged with the Fund to bring the review work to completion without delay. Pakistan remains firmly committed to its agenda of fiscal stabilization and economic reforms,” the ministry tweeted.