PM Shehbaz Sharif fast-tracks IMF talks

March 05, 2024 (MLN): Wasting no time setting his economic agenda into motion, Prime Minister Shehbaz Sharif directed immediate talks with the International Monetary Fund (IMF) regarding its Extended Fund Facility.

He chaired an hours-long meeting regarding the rehabilitation of the country’s economy on Monday right after taking oath as the 24th Prime Minister of Pakistan.

Emphasizing the significance of taxpayers in the nation's economic framework, he highlighted their importance in enhancing exports and fostering value addition, pledging government support to encourage their endeavours.

PM Sharif swiftly ordered the commencement of automation processes within the Federal Board of Revenue (FBR) and other relevant bodies to enhance transparency within governmental institutions.

Addressing the issue of state-owned enterprises (SOEs) operating at a loss, he said that SOEs would be privatized to alleviate the economic burden.

Furthermore, the Prime Minister issued directives to form a committee tasked with devising strategies to reduce privileges enjoyed by members of boards overseeing state-owned entities.

He also emphasized the transition of power and gas sectors to smart metering technology to curb line losses to modernize infrastructure and reduce inefficiencies.

In addition, he also directed to work out a strategy to reduce the size of the government by merging or closing down such institutions that were no longer needed.

 PM also highlighted the importance of the Special Investment Facilitation Council (SIFC) in bolstering economic stability, pledging further enhancements to strengthen its role.

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