Pak-IMF Talks


Pakistan has repeatedly sought international support for its economy, which has been hit by crippling national debt, galloping inflation, and a plummeting rupee. The government began talks with the International Monetary Fund (IMF) over the release of crucial funds, a process slowed by concerns about the pace of economic reforms in the country. The talks are being held in the Qatari capital Doha, the Ministry of Finance said, and are expected to continue into next week. In recent meetings with the new finance minister, the IMF has linked the continuation of its loan program with the reversal of fuel subsidies, which were introduced by the previous government. However, Prime Minister Shehbaz has multiple times rejected summaries by the Oil and Gas Regulatory Authority and the finance ministry to increase fuel prices. Pakistan IMF relation is not a new story in the town.  Pakistan has been a constant borrower of IMF were in, the country has been engaging with IMF since the 1950s. The country has been conducting lending agreements with IMF; however, the rate of success has remained quite low. Pakistan needs to implement its adjustment programs in full letter and spirit and on an immediate priority basis. Not only does the country need to reform its redundant regulatory system it also needs to come up with comprehensive measures that could limit public spending also protect and safeguard the downtrodden and most vulnerable segments of society. The country needs to aim for the long run, wherein it must expand the tax net and create a conducive economic environment for sustainable growth and development, and to manage the recurring balance of payment problems

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