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IMF programme: Govt will deliver to secure $700m under SBA: Shamshad
Business Recorder
Sep 29, 2023
ISLAMABAD: The caretaker government will deliver on the International Monetary Fund (IMF) programme to secure $700 million under the SBA and on external financing requirements, the interim government is working to secure concessional funding from multilaterals (WB, ADB, IsDB) of $6.3 billion and bilateral assistance of around $10 billion from China and KSA as well as oil facility on deferred payment.
While briefing the Senate Standing Committee on Finance presided over by Saleem Mandviwalla, Dr Shamshad Akhtar said structural reforms agreed with the IMF are for the country’s own economic interest and not for the Fund. “We are here for the short-term and want to ensure continuity,” she added.
She explained to the committee that speculation of dollars has been arrested subsequent to the government action to prevent the smuggling of dollars.
However, the minister said that it would be ambitious to bring down the inflation given the increase in the prices of commodities in the global market. Additionally, the caretaker finance minister said that the depreciation of the rupee has been a major reason for record inflation.
