ISLAMABAD: Pakistan’s finance chief said on Friday the International Monetary Fund (IMF) bailout package was not likely to impede the country’s economic growth while addressing a gathering in Karachi.
The IMF provided a $6 billion lifeline to Pakistan in 2019 to ease the country’s economic challenges caused by a massive current account deficit.
However, the loan was offered under strict economic conditions that required the government to end subsidies, generate greater tax revenue and implement painful structural reforms.
Experts warned the IMF program would undermine Prime Miniter Imran Khan’s promise to build a future welfare state where underprivileged segments were going to find a more comfortable economic life.
“I do not think the IMF program is going to impede our 5 percent growth rate,” The Express Tribune quoted Tarin as saying. “If we remain within the range of 5, 5.25 and 5.5 percent, we will be fine.”
He said the government had already surpassed its revenue collection target by Rs230 billion until the current stage of the fiscal year, adding it was likely to cross the Rs6 trillion mark by the end of it.
The country’s finance chief also maintained a comprehensive economic plan and political will were imperative for Pakistan’s progress, reported the APP news agency.
He said the country was not too far away from the IMF’s recommended reforms, as the international financial institution continues to scrutinize the economic performance of the country.
Pakistan’s finance chief says IMF program won’t hurt economic growth
https://arab.news/mphpj
Pakistan’s finance chief says IMF program won’t hurt economic growth
- Shaukat Tarin maintains the country is likely to surpass the Rs6 trillion mark in revenue collection
- The finance chief informs the country is not too far away from the IMF’s recommended reforms
Pakistan’s president defends ongoing strikes in Afghanistan, urges Kabul to dismantle militants
- Afghanistan on Thursday launched attacks in retaliation for Pakistani airstrikes the previous Sunday
- Pakistan’s military says it is only targeting Afghan military installations to avoid civilian casualties
ISLAMABAD: Pakistan’s president on Monday defended his country’s ongoing military strikes in neighboring Afghanistan, saying Islamabad tried all forms of diplomacy before targeting militants operating from Afghan territory, and called on the Taliban government in Kabul to disarm groups responsible for attacks in Pakistan.
Pakistan earlier said it is in “open war” with Afghanistan, alarming the international community. The border area remains a stronghold for militant organizations including Al-Qaeda and the Daesh (Islamic State) group.
“(The Afghan Taliban) must choose to dismantle the terror groups that survive on conflict and its war economy,” Asif Ali Zardari said during a speech to lawmakers, adding that “no state accepts serial attacks on its soil.”
Afghanistan on Thursday launched attacks in retaliation for Pakistani airstrikes the previous Sunday. Since then, Pakistan has carried out operations along the border, with Information Minister Attaullah Tarar claiming the killing of 435 Afghan forces and the capture of 31 Afghan positions.
Kabul has denied such claims.
In Afghanistan, the deputy government spokesman Hamdullah Fitrat said Pakistan’s military fired mortar shells at a refugee camp in eastern Kunar province, killing three children and injuring three others.
Afghanistan’s defense ministry said Afghan forces carried out strikes targeting a Pakistani military facility near Paktia province, causing “substantial losses and heavy casualties.”
Pakistan’s military did not respond to questions. It has said Pakistan is only targeting Afghan military installations to avoid civilian casualties.
Pakistan has witnessed a surge of violence in recent months and blames it on the outlawed Pakistani Taliban, known as Tehreek-e-Taliban Pakistan or TTP. It operates both inside Pakistan and from Afghan territory.
Islamabad accuses Afghanistan’s Taliban government of providing safe havens for the TTP, which Kabul denies.
The latest cross-border fighting ended a ceasefire brokered by Qatar and Turkiye in October. The two sides failed to reach a permanent agreement during talks in Istanbul.
Zardari reiterated Pakistan’s call for talks, saying, “We have never walked away from dialogue.”
The Pakistani leader again accused Afghanistan of acting as a proxy for India by sheltering militant groups.
“Stop being used by another country as a battlefield for their ambitions,” he said.
Zardari cited a recent report from the United Nations Security Council’s monitoring team that described the presence of militant groups in Afghanistan as an extra-regional threat.
