Prime Minister Shehbaz Sharif on Wednesday described the staff-level agreement with the International Monetary Fund (IMF) as a pivotal achievement in stabilizing Pakistan’s economy.
During the Federal Cabinet meeting held in Islamabad, he highlighted the inclusion of a Resilience and Sustainability Facility worth 1.3 billion dollars alongside the seven billion dollars’ Extended Fund Facility, culminating in a total of 8.3 billion dollars.
Sharif commended cabinet members and government officials for their efforts in securing a 26 percent increase in tax collection. He acknowledged the IMF agreement as a significant accomplishment and praised the diligence of the government’s team.
Nevertheless, he noted that while it is a loan, Pakistan still faces a long path toward eliminating debt and achieving self-reliance.
The Prime Minister emphasized the crucial link between peace and development, highlighting the need to eradicate terrorism as a foundation for progress. He applauded the sacrifices of security forces, law enforcement agencies, and the Pakistani people in the fight against terrorism, and stressed the importance of bolstering the morale of security forces.
On the topic of the Ramadan Package, Sharif revealed that 60 percent of the allocated 20 billion rupees has been distributed via a transparent digital wallet system. He also expressed gratitude for the posthumous awarding of the Nishan-e-Pakistan to former Prime Minister Zulfikar Ali Bhutto, acknowledging his contributions to the nation.
In addition, the Federal Cabinet offered prayers for the late mother of Army Chief General Syed Asim Munir.