Finance Minister Senator Ishaq Dar chaired a meeting at the Ministry of Finance on Wednesday and received a briefing from Governor State Bank of Pakistan (SBP) Tariq Bajwa and Finance Secretary Shahid Mahmood relating to participation of Pakistan's delegation in the recently concluded annual meetings of the World Bank and IMF. During the briefing to the Finance Minister, Governor SBP said the World Bank and IMF were informed by the Pakistani side that the government was focused on maintaining the economic stability achieved during the last four years, and attaining higher economic growth.
He said the measures being taken by the government to manage the current account deficit and strengthen the external account position were also conveyed during the meetings, including the Prime Minister's Package of Incentives for Exporters and policy options being adopted to manage imports, said a press release issued on Wednesday.
The Finance Secretary briefed the Finance Minister on the discussions held with the WB during the annual event. He said the opportunity was utilised to hold in-depth discussions on various matters such as further economic reforms as well as Bank-supported development projects. He said the delegation also held productive meetings with ratings agencies, banks and investors on the side-lines of the Annual Meetings regarding Pakistan's economy.
Minister Dar expressed satisfaction at the participation and contribution of the Pakistani side during the annual meetings. He welcomed WB's clarification relating to Pakistan's external financing requirements, and said the matter had caused unnecessary commotion. He said the government was focused on achieving higher, sustainable and inclusive economic growth, in order to capitalize on the hard-earned macroeconomic stability of recent years. In this regard, he highlighted the strong fiscal performance during the first quarter of the current fiscal year. He stated that Pakistan's external financing needs were at a sustainable level, and external inflows were expected to be sufficient to meet repayment obligations. Senior officials of the Ministry of Finance also attended the meeting.-PR
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