ISLAMABAD: Prime Minister Shehbaz Sharif on Tuesday expressed satisfaction over Pakistan’s progress regarding an ongoing International Monetary Fund (IMF) program and macroeconomic stability in the country.
The South Asian country, which has faced an economic meltdown in recent years, is treading a long path to economic recovery under a $7 billion IMF program it secured in Sept. last year.
An IMF mission is currently in Pakistan to analyze Islamabad’s progress on key conditions as part of first review of the facility. A successful review will result in the release of around $1 billion to Pakistan as second installment under the program.
Speaking to his cabinet members, Sharif said the ongoing negotiations with the IMF were “satisfactory” and moving forward in a good manner.
“The IMF mission is here [in Pakistan]. The foreign minister and his team, and other ministers are holding talks with it,” the prime minister said in televised comments.
“I believe this program is important for our growth because our federal reserves, inflation, core inflation, your banking system, lowering of policy rate, all these are linked with this.”
Finance Minister Muhammad Aurangzeb last month said they were confident of meeting targets of the IMF program. Pakistan was able to build some trust with the IMF by completing a short-term, nine-month program last year.
Previous loan programs in Pakistan ended prematurely or saw delays after the governments at the time faltered on meeting key conditions.
Sharif said Pakistan’s growth was vital to meeting these conditions and for that, agriculture, industries, commerce, finance, IT, mines and minerals and maritime sectors were of great significance, hoping his cabinet’s members would transform their ministries to this effect.
“A complete transformation of railways is required. Similarly, there is huge potential in maritime,” he said.
“There would be a review of our ministries every three months, I will sit with you and the results of the review will be presented before the nation.”
PM expresses satisfaction over progress as IMF in Pakistan for first review of loan program
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PM expresses satisfaction over progress as IMF in Pakistan for first review of loan program
- An IMF mission is currently in Pakistan to analyze Islamabad’s progress on key conditions as part of first review of its $7 billion program
- Shehbaz Sharif says the program is vital to Pakistan as its federal reserves, inflation, banking system and policy rate are all linked with it
At ECO meeting, Pakistan proposes ‘Regional Innovation Hub’ to curb natural disasters
- Pakistan hosts high-level 10th ECO Ministerial Meeting on Disaster Risk Reduction in Islamabad
- Innovation hub to focus on early warning technologies, risk informed infrastructure planning
ISLAMABAD: Pakistan has proposed to set up a “Regional Innovation Hub on Disaster Risk Reduction” that focuses on early warning technologies and risk informed infrastructure planning, the Press Information Department (PID) said on Wednesday, as Islamabad hosts a high-level meeting of the Economic Cooperation Organization (ECO).
The ECO’s 10th Ministerial Meeting on Disaster Risk Reduction (DRR) is being held from Jan. 21-22 at the headquarters of the National Disaster Management Authority (NDMA) in Pakistan’s capital.
The high-level regional forum brings together ministers, and senior officials from ECO member states, representatives of the ECO Secretariat and regional and international partner organizations. The event is aimed to strengthen collective efforts toward enhancing disaster resilience across the ECO region, the PID said.
“Key agenda items include regional cooperation on early warning systems, disaster risk information management, landslide hazard zoning, inclusive disaster preparedness initiatives, and Pakistan’s proposal to establish a Regional Innovation Hub on Disaster Risk Reduction, focusing on early warning technologies, satellite data utilization, and risk-informed infrastructure planning,” the statement said.
The meeting was attended by delegations from ECO member states including Pakistan, Türkiye, Azerbaijan, Iran, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan. Representatives of regional and international organizations and development partners were also in attendance.
Discussions focused on enhancing regional coordination, harmonizing disaster risk reduction frameworks, and strengthening collective preparedness against transboundary and climate-induced hazards impacting the ECO region, the PID said.
ECO members states such as Pakistan, Türkiye, Afghanistan and others have faced natural calamities such as floods and earthquakes in recent years that have killed tens of thousands of people.
Heavy rains triggered catastrophic floods in Pakistan in 2022 and 2025 that killed thousands of people and caused damages to critical infrastructure, inflicting losses worth billions of dollars.
Islamabad has since then called on regional countries to join hands to cooperate to avert future climate disasters and promote early warning systems to avoid calamities in future.
