ISLAMABAD: Federal Minister for Finance and Revenue Senator Muhammad Ishaq Dar has asked the International Monetary Fund (IMF) to take floods devastation into account during a meeting that reviewed the economic situation of the country.
On Thursday, the minister briefed the IMF mission chief on the economic situation caused by the devastating floods in the country that affected infrastructure, crops and the livelihood of the people.
The finance minister referred to the meeting between Prime Minister Shehbaz Sharif and the MD IMF that took place during the latter’s visit to the US, in which the MD IMF promised to support Pakistan in this challenging situation brought on by the flash floods and reevaluate the program requirements.
The Minister was briefed on the country’s economic condition as a result of the devastating floods, which had an impact on infrastructure, agriculture, and people’s means of subsistence, according to a statement made public by the Finance Ministry.
According to the finance minister, the administration would take action to lighten the economic load while safeguarding the population’s most vulnerable groups.
The minister further said that the government aims to address structural issues so that Pakistan is able to end its fiscal deficit and move towards sustainable growth.
The government’s determination to implement the reforms envisioned by the program was further confirmed by the finance minister.
IMF Mission Chief Porter gave the IMF’s assessment of the economic issues facing the country and congratulated the finance minister on taking over the Finance Ministry. A meeting between the MD IMF and the Prime Minister of Pakistan was also mentioned, along with the IMF’s support for Pakistan in its hour of need.
