Prime Minister Shehbaz Sharif has stressed the necessity of another IMF program, indicating that the country cannot sustain itself without it.
Addressing the Apex Committee meeting of the Special Investment Facilitation Council (SIFC) on Thursday, he suggested a potential duration of two to three years for the new IMF program and emphasized the need for institutional reforms.
The prime minister also emphasized that they had all gathered at the meeting for the prosperity and security of Pakistan. He extended special thanks to army chief General Syed Asim Munir for his cooperation in the national interest.
Addressing the meeting, Prime Minister Sharif expressed concern over bureaucratic hurdles and red-tapism, likening them to chains hindering progress. However, he reiterated the unity among all parties for the country's development and security.
"The clear message is that we are all one for the development and security of the country," he stressed.
Highlighting Pakistan's economic challenges, the premier revealed that the country was on the brink of bankruptcy. He then commended the collective decision of all political parties to save Pakistan.
"Congratulations to the entire team for implementing the agreement with the IMF. It is hoped that the last installment of the loan program will be received next month," Shehbaz asserted.
He also emphasized institutional reforms and announced plans to digitize the Federal Board of Revenue (FBR) to enhance efficiency and transparency. He assured that the government would confront all challenges collectively.
Addressing economic concerns, Prime Minister Sharif acknowledged the high inflation rate, expressing empathy for the common man. He also highlighted significant financial losses, citing an annual electricity theft of Rs400 billion and a loss of Rs825 billion incurred by Pakistan International Airlines (PIA).
