AGL 38.26 Increased By ▲ 0.56 (1.49%)
AIRLINK 141.00 Increased By ▲ 6.43 (4.78%)
BOP 5.44 Decreased By ▼ -0.03 (-0.55%)
CNERGY 3.84 No Change ▼ 0.00 (0%)
DCL 7.60 Increased By ▲ 0.17 (2.29%)
DFML 46.19 Increased By ▲ 0.72 (1.58%)
DGKC 77.50 Decreased By ▼ -0.50 (-0.64%)
FCCL 29.28 Decreased By ▼ -0.01 (-0.03%)
FFBL 56.50 Increased By ▲ 0.50 (0.89%)
FFL 8.60 Increased By ▲ 0.05 (0.58%)
HUBC 98.69 Increased By ▲ 1.45 (1.49%)
HUMNL 14.10 Decreased By ▼ -0.09 (-0.63%)
KEL 3.83 Decreased By ▼ -0.07 (-1.79%)
KOSM 7.39 Increased By ▲ 0.60 (8.84%)
MLCF 36.70 Increased By ▲ 0.40 (1.1%)
NBP 68.90 Decreased By ▼ -0.80 (-1.15%)
OGDC 169.50 Increased By ▲ 2.50 (1.5%)
PAEL 25.40 Increased By ▲ 0.07 (0.28%)
PIBTL 6.56 Decreased By ▼ -0.18 (-2.67%)
PPL 131.00 Increased By ▲ 0.50 (0.38%)
PRL 25.11 Decreased By ▼ -0.28 (-1.1%)
PTC 15.64 Increased By ▲ 0.39 (2.56%)
SEARL 58.00 Increased By ▲ 0.30 (0.52%)
TELE 6.90 Increased By ▲ 0.11 (1.62%)
TOMCL 35.24 Increased By ▲ 0.45 (1.29%)
TPLP 7.73 Increased By ▲ 0.13 (1.71%)
TREET 14.10 Increased By ▲ 0.19 (1.37%)
TRG 44.69 Decreased By ▼ -0.31 (-0.69%)
UNITY 25.41 Increased By ▲ 0.33 (1.32%)
WTL 1.21 No Change ▼ 0.00 (0%)
BR100 9,152 Increased By 84.1 (0.93%)
BR30 27,234 Increased By 208.3 (0.77%)
KSE100 85,840 Increased By 579 (0.68%)
KSE30 27,234 Increased By 222.5 (0.82%)

Prime Minister Shehbaz Sharif said on Friday that the recently-announced International Monetary Fund (IMF) programme would pave way for reforms and restructuring of Pakistan’s economy.

“Hopefully, this programme will be through and a nine-month insurance will be available to Pakistan,” said Shehbaz as he addressed the launch ceremony of the social protection account under the Benazir Income Support Programme (BISP) in Islamabad.

Last week, the IMF announced that its staff and Pakistani authorities reached an agreement on policies to be supported by a $3-billion, nine-month Stand-By Arrangement (SBA).

The new IMF arrangement, seen as a massive positive for the government and the economy reeling from crisis, extends Pakistan’s commitment with the lender well into the second half of fiscal year 2023-24, and is also an upgrade from the earlier expectation that the country would receive $1.1 billion after the ninth review.

However, experts have stressed that authorities need to implement reforms to achieve long-term economic sustainability.

The Washington-based lender’s Executive Board meeting on Pakistan’s SBA has been set for July 12.

“We are very grateful to all our friendly countries which have supported us at this point of time to get through with IMF and sign a staff-level agreement,” PM said.

Meanwhile, the prime minister lauded the role of diplomats and international donors for their contribution towards the BISP.

“The programme has transformed Pakistan society and it will continue in times to come. I think no amount would be sufficient to finance this project.

“However, we also need to ensure that we are not promoting an army of beggars, we are promoting an army of doers who would build Pakistan in times to come.”

Comments

Comments are closed.

Tulukan Mairandi Jul 07, 2023 02:31pm
He will do nothing of that sort.
thumb_up Recommended (0)
KU Jul 07, 2023 08:50pm
.......and we are going to request Harry Potter to send us magic wand technology so that we can mass produce it and give it to the people. This will save the day and country, and people can just zap the wand and behold, food on the table!
thumb_up Recommended (0)