Prime Minister (PM) Shehbaz Sharif on Friday said devastating floods and rains cost $30bln loss to Pakistan.
In a post-cabinet meeting address, the premier informed the masses about the progress of IMF programme and claimed that all conditions of the Staff Level Agreement (SLA) have been fulfilled, adding SLA will be signed this month.
The premier observed that the coalition government inherited an ill economy. After coming into power friendly country China helped Pakistan to address financial issues. China, Saudi Arabia and the United Arab Emirates helped Pakistan and assured the International Monetary Fund (IMF) of the revival of the stalled loan programme.
PM Shehbaz Sharif reiterated that the ninth review with the IMF will be completed during the current month of July as he held an hour-long telephonic conversation with the fund’s chief.
Premier stressed that political stability is a must to put the economy in the right direction.
The premier commenting on the political instability in the country said, economic development is not possible without ending political instability.
PM Shehbaz on Budget 2023-24 said that comprehensive consultations have been held with all the stakeholders on it.
He said that by focusing on the agriculture sector, we can yield positive results in the minimum time. He stressed for establishing agricultural value chain to enhance exports and bring prosperity in the lives of rural population. Similarly, he said, we have to focus on enhancing IT exports.
PM Shehbaz said government is cognizant of the problems faced by the common man due to inflation. He said we have to take care of the salaried class as well as the pensioners so that they could meet their basic requirements.
He went on to say it is a matter of satisfaction that the country has managed to bring down the current account deficit to 3.3 billion dollars regardless of internal and external challenges.
The Prime Minister was confident that since Pakistan has fulfilled all the conditions, the IMF board will approve the next tranche after completion of ninth review this month.