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ISLAMABAD: While emphasizing the importance of remaining in the International Monetary Fund (IMF) programme for economic stability, Caretaker Finance Minister Dr Shamshad Akhtar said another increase in gas prices would be in January 2024.

Speaking to the media after the staff-level agreement (SLA) reached with the IMF, flanked by Secretary Finance Imdad Ullah Bosal, Additional Secretary Qamar Abbasi, the additional secretary external finance, and the economic adviser Ministry of Finance, she maintained that external financing would not be an issue as the government expects inflow in December 2023, which would help increase foreign exchange reserves.

The secretary finance added that talks for commercial borrowing are at an advance stage to secure budgeted commercial inflows.

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Akhtar said that the government is making an effort to get US$2 billion from the World Bank in the ongoing fiscal year.

She added that around US$1 billion is in the pipeline on various accounts as well which would help increase the foreign exchange reserves. The minister said that no decision has been taken to impose tax on real estate and retailers.

She said that the government would timely repay the bond maturing in April 2024 and the issuance of bond has been delayed for the time being owing to an inappropriate environment.

She said that the government has approved a policy to privatise the loss-making state-owned enterprises (SOEs) and by end November.

Copyright Business Recorder, 2023


Comments are closed.

Mehboob Ali Lalani Nov 17, 2023 09:38am
How long will we depend on loan? It seems that our all efforts are on acquiring loan and enhancing prices of every essential commodities. There is no efforts on cutting of corners. Our royal spending is continued as usual. We need to work hard and take simple steps to improve economic activities, reducing cost of goods, augmenting exports and reducing governance expenses within revenue earned, not acquired through loans. There should be setting of practical milestones to achieve the targets.
thumb_up Recommended (0)
Haroon Ahmed Malik Nov 17, 2023 09:43am
No detail about gas price hike...?? headline and content are not exactly aligned
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Aamir Nov 17, 2023 10:39am
Cut govt expenditure and wastage. The economy cannot sustain new taxes.
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Usman Nov 17, 2023 10:50am
@Mehboob Ali Lalani, you can start by producing something to increase exports instead of being a keyboard warrior.
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Arshad Nov 17, 2023 11:28am
"THOSE" who get free Electric/Gas/Petrol dont give a Sh*t about the price hikes........Its the ordinary Me&You who are getting squeeze after every 2 weeks......
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Mustafa Nov 17, 2023 12:42pm
Right move. These efforts are to consume what we are able to (khudkafeel) ... Sad part is IMF is pushing us to stop drama of Subsidy - we should willingly stop all these subsidies and pay for what we consume...
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Mehboob Ali Lalani Nov 17, 2023 05:36pm
@Usman, Export cannot be enhanced in isolation by an individual. You have to make conducive environment for it. But, mere enhancing export is also not enough. You have to cut the expenditures within the orbit of your resources. Loan for self consumption is bad antidote to the economy.
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Az_Iz Nov 17, 2023 09:34pm
@Mustafa, agree. Subsidies should end. When country does not have the money to pay for it.
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Az_Iz Nov 17, 2023 09:37pm
@Mehboob Ali Lalani, you are correct. Loans for consumption is bad. But loans for investment in infrastructure, improving health and education or providing cheaper public transportation are not bad.
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