October 5, 2018 (MLN): Following the return of the International Monetary Fund (IMF) delegation, the ministry of finance has conclusively remarked on the summits, promising that the government will invest more in social protection and is committed towards the creation more jobs.
The ministry apprised that the IMF has acknowledged the current government’s predicament, admitting the fact that it inherited a fragile economy. The government however is dedicated to make corrective adjustments to restore stability within the economy.
Scrutinizing the previous government’s methods, the Ministry of Finance pointed out that crucial economic decisions delayed by them resulted in a weakened economy, while prompt decisions on their part could have averted the economic downturn.
The government is of view that fiscal and price adjustments alone will not be sufficient and the economy needs deep structural and institutional reforms. They said that the entrenched imbalances plaguing the economy will keep resurfacing and the administration firmly believes in executing structural and governance reforms.
The Ministry added that Pakistan is committed to protecting the poor and vulnerable segments and revival of domestic industry and export sector are amongst the top most priorities.
