'Good News' on IMF deal banging the door: Ishaq Dar

February 09, 2023 (MLN): The talks between the government and the International Monetary Fund (IMF) have almost been concluded as the Federal Minister for Finance and Revenue Senator Ishaq Dar reached Finance Division on Thursday. 

"We will give the good news to the nation regarding the IMF deal tonight", Federal Minister for Finance and Revenue Senator Ishaq Dar said during the media talk. 

Earlier on Wednesday, Prime Minister Shehbaz Shareef assured the IMF delegation of the complete implementation of the program and progress towards goals.

The government is working hard to reach an agreement with the IMF while minimizing the burden on the common people. To achieve this, the government has already received approval from the Prime Minister on the decisions made during the negotiations with the IMF, Minister of State for Finance, Ayesha Ghaus Pasha said.

According to the Minister, the government plans to put a higher burden of electricity tariffs and taxes on the rich rather than on the common people. The government is trying to ensure that the new measures will have a minimum impact on the general population.

The IMF agreement is crucial for Pakistan, and negotiations with the IMF are now entering their final stages. The IMF mission is set to meet with Finance Minister Ishaq Dar to clarify a few remaining issues, she informed.

The government's efforts to reach an agreement with the IMF while minimizing the impact on the common people show its commitment to promoting financial stability and ensuring the well-being of its citizens.

On this news, the Pakistani rupee (PKR) has gained 2.8 rupees against the US dollar in the interbank market to settle at PKR 270.51 per USD, compared to the previous close of PKR 273.33 per USD.  

On the stock front, the Pakistan Stock Exchange (PSX) observed a bullish trend as the investors also cheered the news about the settlement with IMF which led the index to gain 743.27 points, up by 1.78% by the session's end. 

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