The prices of commodities have increased in Pakistan due to world wars, the IMF will ensure full implementation of the program, the process of privatization of all loss-making institutions, including PIA, has been accelerated. Caretaker Finance Minister Shamshad Akhtar
Caretaker Finance Minister Shamshad Akhtar has said that the economic growth rate will be 2.5 percent in the current financial year, the agriculture and trade sectors are improving, the prices of commodities have increased in Pakistan due to the world wars, the IMF program has been completed. Implementation will be ensured, the process of privatization of loss-making institutions has been accelerated.
Addressing the SDPI seminar in Islamabad, he said that the first meeting of the loan program from the IMF has been successfully completed. will do We have improved the exchange market through reforms, the stock market is improving, we have made a new policy to protect government companies from losses, the confidence of investors has been restored through government measures, the economic growth rate has been 2.5 percent in the current financial year. There is improvement in agriculture and trade sector.
He said that the government got rid of expensive loans locally, facilities were provided to banks to open LCs, they worked hard for the stability of the economy in two months, all the things for the economic development of Pakistan are present in the country. Structural reforms will have to be done, global wars have increased the prices of commodities in Pakistan. The caretaker finance minister said that the temperature of Pakistan is likely to increase in the future, the sovereign fund of profitable companies has been established.
Pakistan's debt has become very high, the interest payments on the debt have reached the sky, Pakistan's domestic debt has also increased, three-fourths of the debt is being paid from the FBR's tax revenue, work to reduce the debt burden. What is being done, the debt of international financial institutions has also increased to 44%, mutual foreign debt is 35%, the most difficult is 14% commercial debt.
The caretaker government took action against illegal transactions and smuggling. The process of privatization of loss-making institutions has been accelerated, the process of privatization of PIA is also being accelerated. Local debt re-profiling process has been initiated, BISP and SDP cost-sharing discussions with provinces, winding down of defunct institutions, setting up of Central Monitoring Unit, Central Monitoring Unit deficits have been initiated. SOA policy has been approved.