AIRLINK 172.80 Decreased By ▼ -2.93 (-1.67%)
BOP 13.30 Increased By ▲ 0.18 (1.37%)
CNERGY 7.35 Decreased By ▼ -0.19 (-2.52%)
FCCL 43.56 Decreased By ▼ -0.35 (-0.8%)
FFL 14.97 Decreased By ▼ -0.04 (-0.27%)
FLYNG 26.45 Decreased By ▼ -0.45 (-1.67%)
HUBC 129.83 Decreased By ▼ -0.40 (-0.31%)
HUMNL 13.25 Decreased By ▼ -0.09 (-0.67%)
KEL 4.41 Decreased By ▼ -0.09 (-2%)
KOSM 6.04 Decreased By ▼ -0.02 (-0.33%)
MLCF 55.25 Decreased By ▼ -0.78 (-1.39%)
OGDC 212.23 Decreased By ▼ -2.54 (-1.18%)
PACE 5.94 Decreased By ▼ -0.04 (-0.67%)
PAEL 41.15 Increased By ▲ 0.25 (0.61%)
PIAHCLA 16.35 Increased By ▲ 0.03 (0.18%)
PIBTL 9.58 Decreased By ▼ -0.17 (-1.74%)
POWER 11.55 Decreased By ▼ -0.21 (-1.79%)
PPL 178.45 Decreased By ▼ -3.03 (-1.67%)
PRL 33.45 Decreased By ▼ -0.77 (-2.25%)
PTC 22.82 Decreased By ▼ -0.24 (-1.04%)
SEARL 94.21 Decreased By ▼ -1.51 (-1.58%)
SILK 1.17 Increased By ▲ 0.03 (2.63%)
SSGC 34.82 Decreased By ▼ -0.63 (-1.78%)
SYM 15.79 Increased By ▲ 0.04 (0.25%)
TELE 7.81 Decreased By ▼ -0.06 (-0.76%)
TPLP 10.84 Decreased By ▼ -0.14 (-1.28%)
TRG 60.85 Increased By ▲ 0.35 (0.58%)
WAVESAPP 10.69 Decreased By ▼ -0.12 (-1.11%)
WTL 1.33 Decreased By ▼ -0.02 (-1.48%)
YOUW 3.80 Increased By ▲ 0.03 (0.8%)
BR100 12,019 Decreased By -35.1 (-0.29%)
BR30 36,238 Decreased By -228.7 (-0.63%)
KSE100 113,776 Decreased By -580.5 (-0.51%)
KSE30 35,084 Decreased By -263 (-0.74%)

ISLAMABAD: Pakistan’s economic indicators are showing positive signs, with an agenda of painful reforms and privatization on track, Prime Minister Shehbaz Sharif said on Friday, ahead of an IMF board meeting to decide on a $1.1 billion funding for the country.

The prime minister said in an address to his cabinet that was telecast live, that exports and remittances had shown a rise within one-and-a-half month of his government.

The IMF board is meeting on Monday to decide on the disbursement of the second and last tranche of a $3 billion standby arrangement Islamabad secured last summer to avert a sovereign default. With a chronic balance of payment crisis, Pakistan needs $24 billion in payments for debt and interest servicing in the next fiscal year starting July 1 - three times more than its central bank’s foreign currency reserves.

IMF Executive Board to meet April 29 on Pakistan’s SBA

The South Asian nation is seeking yet another long-term, larger IMF loan. Finance Minister, Muhammad Aurangzeb, has said Islamabad could secure a staff-level agreement on the new program by early July.

If successful, it would be the 24th IMF bailout for Pakistan.

The IMF-led structural reforms require Pakistan to raise its tax to GDP ratio from around 9% to at least 13%-14%, stop losses in state-owned enterprise and manage its energy sector losses which run into trillions of rupees.

“It is not just for an antibiotic to work anymore. It needs a surgery,” Sharif said.

Comments

Comments are closed.

IMTIAZ CASSUM AGBOATWALA Apr 27, 2024 12:16pm
More of wishful thinking than reality. See where the inflation is going .
thumb_up Recommended (0)
zh Apr 27, 2024 10:27pm
He is living in a fool's world.
thumb_up Recommended (0)