IMF loan revival signifies IFIs' trust in Pakistan: Miftah Ismail

News Image

MG News | July 15, 2022 at 12:51 PM GMT+05:00

0:00

July 15, 2022 (MLN): Finance Minister Miftah Ismail on Thursday said that the restoration of the IMF programme signifies international financial institutions' trust in Pakistan's economy, indicating that the country's economy is heading in the right direction.

In an exclusive talk with Radio Pakistan, he said the government took tough decisions during the last three months to prevent bankruptcy and Sri Lanka-like situation in Pakistan.

“We took tough decisions without taking into consideration heavy political cost; and we succeeded in this objective”, he said.

He expressed confidence that credit lines and other loans will also be restored with the revival of the IMF programme. He said the World Bank, Asian Development Bank and other financial institutions stop extending any kind of loan or credit if a country does not have sufficient funds for a three-month import.

He hoped that friendly countries, including Saudi Arabia, the United Arab Emirates and Qatar will come for investment and packages for Pakistan, which will lead to enhance exports.

Replying to a question, the finance minister said the dollar's flight will also slow down with the improvement in Pakistan's economy.

Responding to another question, the Minister said as the oil prices are slashing at the international level; this relief will also be passed on to the people of Pakistan.

To note, yesterday, PM Shehbaz Sharif, in his address to the nation announced a reduction in petrol prices in the backdrop of declining international oil prices, providing relief to the common people.

The finance minister stated that country is facing a challenging environment due to the inaptness witnessed over the last four years.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 138,597.36
256.32M
-0.05%
-68.14
ALLSHR 85,286.16
608.38M
-0.48%
-413.35
KSE30 42,340.81
77.13M
-0.03%
-12.33
KMI30 193,554.51
76.19M
-0.83%
-1627.52
KMIALLSHR 55,946.05
305.11M
-0.79%
-443.10
BKTi 38,197.97
16.53M
-0.59%
-225.01
OGTi 27,457.35
6.73M
-0.94%
-260.91
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 117,670.00 121,165.00
117,035.00
-1620.00
-1.36%
BRENT CRUDE 69.23 70.77
69.14
-0.29
-0.42%
RICHARDS BAY COAL MONTHLY 96.50 0.00
0.00
2.20
2.33%
ROTTERDAM COAL MONTHLY 104.50 104.50
104.50
-0.30
-0.29%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 66.03 67.54
65.93
-0.20
-0.30%
SUGAR #11 WORLD 16.79 17.02
16.71
0.05
0.30%

Chart of the Day


Latest News
July 19, 2025 at 04:28 PM GMT+05:00

4.7m families get BISP aid in Punjab


July 19, 2025 at 03:00 PM GMT+05:00

Key Pakistan Market Stats and Economic Indicators


July 19, 2025 at 02:49 PM GMT+05:00

RDA attracts $182m in June


July 19, 2025 at 02:49 PM GMT+05:00

M2 falls by Rs455bn in a week



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg