Prime Minister Shehbaz Sharif says three billion dollars Stand-By Agreement with the IMF will help in bringing economic stability and growth in the country.
Addressing a news conference in Lahore this afternoon, he said Finance Minister Ishaq Dar and his team made tireless efforts to reach this arrangement. He said the IMF Board will accord formal approval in its meeting scheduled to be held on 12th of next month.
The Prime Minister said nations never progress with loans but it was inevitable for the country to go for this agreement with the IMF.
He said the government is committed to complete this programme but simultaneously we will make efforts to achieve self-sufficiency in future to make it the last one.
The Prime Minister said that he held a two meeting with IMF Managing Director in Paris and made telephonic call on her to secure the deal.
Shehbaz Sharif said during the last three months China helped Pakistan significantly by providing about five billion dollars and saved us from default.
He also appreciated Saudi Arabia, UAE, Islamic Development Bank and other friendly countries for their generous help during critical time.
The Prime Minister said last government of Pakistan Tehrik-e-Insaaf breached the deal with IMF and shacked credibility of the country.
He said the cheapest LNG during COVID-19 times was not signed and government of PTI late purchased expensive fuel for the country.
The Prime Minister said incumbent government has signed an agreement for LNG import with Azerbaijan at cheaper rate and it will benefit the country.
He said during the last one year, incumbent government signed agreements for import of wheat, fertilizer and energy on discounted rate and benefited the country.
Shehbaz Sharif said PTI resorted to negative propaganda and conspiracy against the country and tried to portray a picture of dismay about Pakistan at international level.
He said PTI tried to bring country on the verge of default by making negative attempts and inflicted heavy economic damage to country.
He said that we have stabilized the national economy with the efforts of allied parties.
The Prime Minister said that Pakistan was heading towards development in 2018. He said that under the dynamic leadership of former Prime Minister Nawaz Sharif network of roads was developed in the country, load shedding ended and significant progress was made on China Pakistan Economic Corridor.
He regretted that one person was imposed on nation through rigging who spoiled the economy of the country.
Shehbaz Sharif said that recent flood damaged the national economy to a great deal.
While talking about May 9 incident, he said May 9 will be remembered as black day in the history of the country.
Answering a question, the Prime Minister said that all projects of CPEC will be executed and expressed resolve that stability will prevail in the country. He said that the elite of the country will have to contribute in the national economy. He said that if we get opportunity in the next elections then the country will progress as per the aspirations of people.
He said that purpose of the programme with the IMF is to stabilize the national economy.
The Prime Minister said economic stability of the country is linked directly with political stability.He said Pakistan will restore its lost economic position. Shehbaz Sharif said that he is not in favour of restriction on the media and believes in freedom of expression.
He said that are focusing on export led economy, agriculture, Information Technology and mines and minerals sector.
Prime Minister announced to distribute one hundred thousand laptops during next financial year. He said that there is inflation in country but we have to consider the international price hike factor. He said that announcement of election's date is the mandate of Election Commission of Pakistan. He said that under the dynamic leadership of former Prime Minister we gave thousands of laptops to students.
Speaking on the occasion, Finance Minister Ishaq Dar termed agreement with International Monetary Fund a big success.
He also lauded the efforts of Prime Minister Shehbaz Sharif for his efforts for successful agreement with IMF.
The Finance Minister said Pakistan will recieve one billion dollars soon after Funds Board meeting on 12th of next month.
The Finance Minister said Pakistan will receive one billion dollars soon after Fund's Board meeting on 12th of next month.
Ishaq Dar categorically rejected the rumors of default of Pakistan and expressed his resolve to gain Pakistan's position again on 24th economic position. He said only mines potential of the country is six thousand billion dollars.
He said that previous government had taken records debts and increased the difficulties of Pakistan.
He also acknowledged the role of State Bank of Pakistan whose fiscal and monetary policy contributed positively in the country. He also acknowledged officials of finance ministry and FBR for their contributions.
He said we introduced bounded storage policy which will contribute a lot in country in future. He said that all our promises will be fulfilled on fast track.
Minister for Information and Broadcasting Minister Marriyum Aurangzeb and Governor Punjab Baligur Rehman were also present on the occasion.
While answering the questions, Information Minister Maryam Aurangzeb said the government believes in freedom of expression and if anyone has some reservations then we will find the solution of the reservations.
Source: Radio Pakistan
