Islamabad: The International Monetary Fund (IMF) has approved a USD 7 billion loan for Pakistan to support its struggling economy, according to a news source on September 26.
As per the reports, the three-year program will focus on expanding the tax base, increasing utility rates, and implementing structural reforms to boost economic growth and resilience.
This marks Pakistan’s 24th IMF program since 1958, following a period of severe economic crisis exacerbated by political instability, floods, and high inflation.
Prime Minister Shahbaz Sharif emphasised that this should be Pakistan’s final IMF program, citing efforts to attract investments and support from Saudi Arabia, China, and the UAE. IMF Managing Director Kristalina Georgieva praised Pakistan’s economic reforms, noting improvements in growth and inflation while stressing the need for continued focus on long-term stability.
Finance Minister Muhammad Aurangzeb acknowledged the transitional difficulties of implementing reforms but underscored their necessity for financial recovery.
As a graduate in English Literature, Zohaib believes that words are not just a mere figment of imagination. It takes wisdom to be good at them. Following this reason, he is pursuing his career as Public Relations and Content Specialist at Zameen.com.
