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ISLAMABAD: The government remains committed to reviving the IMF programme and put Pakistan back on a sustainable growth path, said Finance Minister Miftah Ismail.

Ismail in a series of tweets said that “I have just returned from Doha after talks with the IMF. Our delegation had very useful and constructive discussions with the IMF team over the last week. We discussed significant slippages in fiscal year 2022, caused in part by the fuel subsidies given in February 2022.”

The minister further stated, “We discussed targets for fiscal year 2023, where, in light of high inflation, declining forex reserves and a large current account deficit, we would need to have a tight monetary policy and consolidate our fiscal position.”

Thus, the government is committed to reducing the budget deficit in the fiscal year 2023.

Govt committed to reviving IMF programme, says Miftah after talks end

The IMF team emphasised the importance of rolling back fuel and power subsidies, which were given by the previous administration in contravention of its own agreement with the Fund.

The government is committed to reviving the programme and put Pakistan back on a sustainable growth path.

Copyright Business Recorder, 2022

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