The economic team of the government on Saturday briefed the visiting International Monetary Fund (IMF) mission on the 2008-09 budget strategy being followed by it to overcome fiscal difficulties in short span of time available.
Sources said that Finance Ministry Incharge Naveed Qamar gave a detailed presentation to the mission on Pakistan''s exports/imports in the 10 months of the current fiscal year, besides the inflows and outflows situation as on April 30, along with the latest situation of balance of payments, revenue generation and possible level of closing of the current account on June 30.
He told the mission that despite some major shocks in the recent years Pakistan''s economic basics were in place for quick recovery. He said that the government was taking every possible measure to put Pakistan''s economy back on track and make its major sectors vibrant for better performance.
State Bank of Pakistan (SBP) Governor Dr Shamshad Akhtar also briefed the mission on Pakistan''s monetary policy. She told its members that Pakistan would introduce its ''Monetary Policy 2009'', by the end of the current calendar year.
The IMF mission is in Islamabad for reviewing Pakistan''s economy and performance of its key sectors during last 10 months of the current fiscal year. It will stay in Pakistan for 10 days and will hold meetings with senior officials. It is scheduled to meet the officials of Planning Commission, Privatisation Commission, Economic Affairs Division, Ministry of Water and Power and other key institutional heads in Islamabad.
A delegation of Pakistan''s economic team had attended the IMF/WB annual meeting in Washington and had briefed its officials on government strategy to minimise the damaged done by the last government to the economy and its strategy for coming out of the crisis-like situation.
Pakistan''s economy is under massive pressure and the government is focused on correction. Pakistan is not a member of any of IMF programme for financial support but under article 4 of the charter, the Fund can have biannual review of the economy. It can also suggest some measures to the government for making the economy strong however their implementation is not binding on Pakistan.
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