Miftah claims IMF programme is ‘on track, not being delayed’

ISLAMABAD – Federal Minister for Finance and Revenue Miftah Ismail said Monday that Extended Fund Facility (EFF) programme with the International Monetary Fund (MF) is on the track.

 

The minister said that there had been some tweets and stories about IMF programme being postponed or delayed due to some anti-corruption law. He said, there was no truth in this and the programme is on the track.

 

“I have been reading with some amusement all the tweets and stories about IMF program being postponed or delayed due to some anti-corruption law. There is no truth to it. The IMF program is on track,” he tweeted.

 

It is pertinent to mention here that Pakistan received Memorandum of Economic and Financial Policies (MEFP) in the last week of June from the International Monetary Fund (IMF) for combined 7th and 8th reviews under Extended Fund Facility (EFF).

 

In May 2019, Pakistan and the IMF reached a staff-level agreement on economic policies for a three-year Extended Fund Facility (EFF).

 

Under the agreement, Pakistan was to receive about $6 billion for a period of 39 months, and so far it has received almost half of it.

 

 

Meanwhile, Prime Minister’s Adviser on Kashmir Affairs and Gilgit Baltistan Qamar Zaman Kaira Monday said that the present government was taking wise decisions to uphold national integrity and to put the crippled economy of the country back on track.

 

In an interview with a TV news channel, he said that due to poor governance and wrong foreign policies of previous government of Imran Khan the economy was deteriorated, adding, coalition government is satisfied with the tough decision of Prime Minister Shehbaz Sharif to stable economy.

 

He said the state of the economy was in ill-condition and without tough and unpopular decisions it was impossible to recover the limping economy.

Coalition government was committed to control all current economic crises in the country, he said, adding, we are well-aware with the difficulties of common people and issues related to high inflation would be addressed soon.

 

He said that government was focusing on improving foreign policies, agriculture sector, adding, international high prices were the main reason behind inflation in the country.

 

Replying to a question about International Monetary fund (IMF) conditions on NAB laws, he replied that IMF is only the best way to tackle economic crises in the country and present government is committed to revive the programme. Replying to another question, he expressed hope that the ill-economy will recover soon and nation would get benefit with the policies of current government.

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