” Pakistan heading for ‘big’ IMF program: Finance Minister ” | GNN INFO

KARACHI: Following the standby agreement with IMF, Federal Finance Minister Muhammad Aurangzeb on Friday said that Pakistan is heading towards a big program with International Monetary Fund (IMF), ARY News reported.

Addressing the ceremony at Karachi Stock Exchange, the Finance Minister said that talks to be held with the IMF officials on April 14 and 15 in Washington.

He lauded the caretaker government initiative for economic stability, saying that with better economic policies, the country’s economy will stabilize.

Muhammad Aurangzeb stressed the need for following structural reforms agenda to take national economy towards stabilization.

He reiterated that the stock market has a vital role to play in bringing the country out of the economic crisis. However, the stock market is going in the right direction.

Related: PIA privatization: Three Gulf countries show interest in buying national carrier

Commenting on the Federal Bureau of Revenue (FBR), he said that they are working to bring reforms in FBR as over Rs1.07 trillion worth revenue cases are still pending.

Moreover, the finance minister reaffirmed that they are working on the outsourcing of airports and privatization of Pakistan International Airlines (PIA) and the privitisation process will complete in June 2024.

Earlier it was reported that as many as three Gulf countries including the United Arab Emirates, Saudi Arabia and Qatar have shown interest in buying the cash-strapped Pakistan International Airlines (PIA) as the government expedites its privatisation plan.

Sources privy to the matter said that the companies from the three countries have approached the Pakistan government to negotiate a deal for the PIA.

Pakistan has also given a briefing to the officials of the three Gulf countries regarding the national flag carrier.