Agreement with IMF is a manifestation of the government’s seriousness, says Prime Minister

Islamabad: A meeting of the federal cabinet chaired by Prime Minister Shahbaz Sharif was held in Islamabad, where he briefed the cabinet on the staff-level agreement with the IMF. In the meeting, Fatiha Khawani and prayers for the blessings of the mother of Army Chief General Asim Munir were also offered.

The Prime Minister said that this agreement is the result of day-and-night hard work and coordinated teamwork, in which, along with the tireless efforts of the government, the Army Chief also played an important role. He added that some elements in the world wanted to put obstacles in Pakistan’s agreement, but they failed due to the seriousness and determination of the government.

Talking about the IMF’s fiscal targets, he said that compared to last year, the institution had set a target of Rs 9 trillion for Pakistan, which has been increased to Rs 12.9 trillion this year. The Prime Minister said that the IMF had offered to reduce this target, but the government, through negotiations, stabilized it at Rs 12.3 trillion.

The Prime Minister also highlighted the increase in revenue collection, noting that it has registered a 26% increase, the highest in the last four years. He thanked the taxpayers, especially the salaried class, and said that the digitization of the FBR is making it possible to prevent tax evasion.

The meeting also discussed the pending court cases, where the Prime Minister said that the cases in the courts are worth trillions of rupees, which need to be heard as soon as possible. He added that Rs34 billion has been recovered so far, and the government is committed to bringing the country back on its feet by reducing its dependence on debt.

The Prime Minister also talked about the irregularities in the sugar sector and announced that strict measures are being taken to prevent tax evasion in the sale of sugar. He assured that all obstacles in the path of economic development can be removed if peace and stability prevail in the country.

At the end of the meeting, the Prime Minister thanked his team, the Finance Minister, the Deputy Prime Minister, and the IMF team, saying that more hard work and reforms are needed to keep Pakistan on the path of development.