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Analysts say revival of IMF program will improve economic situation of the country
January 07, 2023

Rana Ihsaan Afzal Khan (Special Coordinator to PM): In the short term, we need to get some dollar inflows to the country. In review of the 9th program of IMF, it is important to complete it and move to next review program. In support of that we are hoping to get some deposits from friendly countries like Saudi Arabia and China. This will help to retire some of the external debts which are now due. This is the plan in the coming weeks and months. On the other hand, we have adopted energy conservation policy which will help save valuable foreign exchange. We need to adjust the timings of business activities for that end. This policy is part of massive reforms in energy sector that the present government is making. We are also looking to achieve our tax targets. No doubt, these are tough economic times for Pakistan. We should avoid buying imported items and prefer our country made products. The previous government accumulated huge amounts of foreign debts that are unprecedented. We have to clear this burden too.

Mirza Ikhtiyar Baig (Political Economist): We have to revive IMF program to help grow our economy. Present government is making all out efforts to revive the economy and for this purpose it has taken some tough decisions. The revival of IMF program will open doors to funding from other multilateral donors and help accelerate the economic activities. It will also help restore confidence of international investors on Pakistan government.