Pakistan values IMF support and financial assistance: Dr Hafeez Shaikh

ISLAMABAD: Dr Abdul Hafeez Shaikh, the adviser to the prime minister on finance and revenue, said Tuesday the government was focusing on implementation of the International Monetary Fund (IMF) programme.

“The containment of current and fiscal deficits and stabilisation of exchange rate are indicative of the success of government efforts to put the economy on the long-term growth track,” he said while talking to the IMF team led by Mission Chief Ernesto Ramirez Rigo, as per a press release.

Ramirez Rigo had called on the adviser and his team at the Finance Division here on Tuesday, the press release added.

State Bank Governor Reza Baqir, Finance Secretary Naveed Kamran Baloch, Federal Board of Revenue (FBR) Chairperson Shabbar Zaidi, Special Secretary Finance Omar Hamid Khan, and other senior officials of the Finance Division, as well as the local IMF officials, were also present.

Dr Shaikh told the visiting mission delegation that Pakistan enjoyed a very cordial relationship with the IMF and it had been further strengthened during his recent visit to Washington where productive meetings culminating in fruitful discussions were held with the senior IMF management.

He said Pakistan valued the IMF support and financial assistance and the prime minister was personally overseeing and monitoring the progress achieved in various sectors of the economy.

The IMF Mission chief appreciated the positive results being produced by the policies and strategies put in place by the government to remove imbalances in the economy.

He said the volatility in the exchange rate had been reduced while successes have also been achieved in other areas, especially on the fiscal front, which indicated the government was moving in the right direction.

He said the IMF Mission was looking forward to have a meaningful and productive review by aiming at a forward-looking approach with focus on the adjustments required till March, especially in the power sector and funding from various bilateral and multilateral sources for boosting Pakistan foreign exchange.