According to Pakistan’s Finance Minister Miftah Ismail, the public will benefit from lower gasoline costs as a result of falling international oil prices.
He declared In challenging circumstances, one must make challenging decisions. Every action made by the coalition administration would alleviate people’s lives after reaching an agreement with the International Monetary Fund (IMF). It’s time to offer assistance to the populace.
Miftah added that the measures of the current administration had protected the populace “from the landmines set by Imran Khan in the past four years, particularly in the last six months of his dictatorship.”
He added that Imran Khan’s plot to render Pakistan fiscally bankrupt had failed. “In the first two months of this year, Imran Khan sought to make Pakistan into Sri Lanka by breaching agreements with the IMF, but Allah Almighty spared us.” He said. “Closed power plants totaling 7,000 MW have been restarted.”
According to Miftah, the IMF acknowledged that last year’s delays and poor management caused significant budget deficits and that delays in the electricity sector resulted in a Rs 800 billion revolving loan.
He stated, “We have worked day and night to negotiate a good arrangement with the IMF under the leadership of Prime Minister Shehbaz Sharif.
However, the international lender advised Islamabad to be prepared to “take any additional measures”. In contrast to the primary budget surplus target of Rs153 billion or 0.2 percent of the GDP set in the recently amended budget, the IMF announcement disclosed that the global lender had set the 0.4 percent aim.
The government may need to implement more revenue-generating initiatives or reduce spending overall—aside from that for development—to meet this goal.
Mahnur is MS(development Studies)Student at NUST University, completed BS Hons in Eng Literature. Content Writer, Policy analyst, Climate Change specialist, Teacher, HR Recruiter.
