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IMF lauds Pakistan’s economic progress

The International Monetary Fund (IMF) has lauded economic progress of Pakistan in the past months under the present government.

In a meeting with Finance Minister Ishaq Dar on Monday, the new IMF Mission Chief to Pakistan, Harald Finger expressed the hope that things would further improve in the next three years.

He said improvement in the economy was a joint effort of the team led by Finance Minister Dar and it was to be seen how Pakistan economy would perform in future.

Speaking on the occasion, the Director IMF said there was comparative economic stability in Pakistan’s economy which could serve as a good foundation to turning Pakistan into an emerging economy.

Acknowledging the financing of 6.64 billion dollars from the IMF to support Pakistan under the Extended Fund Facility, the Finance Minister said Pakistan had met all the structural benchmarks and quantitative performance criteria set for the sixth review.

The minister appraised the delegation about the problems that the present government had inherited in the form of energy shortages, a weakened economy and scourge of extremism.

He said new power projects had been undertaken in the energy sector and 4000 MW was already ensured to be added to national grid. He said the Chinese side had also undertaken to set up power plants on Government to Government basis which could produce up to 10,000 MW of electricity.


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