Meeting IMF conditions biggest challenge for Tarin, says Expert

With the economic team reshuffled, the upcoming Finance Minister Shaukat Tarin would be facing daunting tasks such as controlling the high inflation and meet the International Monetary Fund (IMF) conditions.

Meanwhile, the economic expert believes that meeting IMF conditions would be the biggest challenge for Tarin, who eyes to achieve a high growth rate.

“From member of advisory council to becoming federal finance minister to becoming member of National Assembly or Senate, Shaukat Tarin can succeed in overcoming numerous challenges on the economic front,” Dr Ikram ul Haq said, a senior economist quoted Arab News.

“The biggest challenge (for him) is meeting IMF conditions without hampering growth. This is not an easy task. They are no out of the box solutions,” he added.

On Friday, Shaukat Tarin was appointed as the fourth Finance and Revenue Minister to head Ministry of Finance (MoF) in less than three years ahead of the budget for the next fiscal year.

Tarin, who had also served as Finance Minister during Pakistan People’s Party-led government in 2009-10, was the first choice of Prime Minister Khan after removal of Dr Abdul Hafeez Shaikh to deal with the challenges of growth, revenue and reforms during the remaining period of the government. However, Hammad Azhar was given the additional charge of Minister for Finance and Revenue on March 31st.

Earlier, in a meeting with the Prime Minister the Finance Minister reportedly stated that 6 to 7 percent GDP growth was critical to dealing with the unemployment as well as other economic challenges. The premier is said to have expressed full faith in Tarin.

According to media reports, Tarin ruled out the possibility of any change at the top level of State Bank of Pakistan and acknowledged the reforms undertaken by the incumbent SBP governor. The participants of the meeting reportedly asked him questions about his economic plan.