No changes being made to programme’s targets: IMF

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ISLAMABAD: International Monetary Fund (IMF) Middle East and Central Asia Director Jihad Azour on Tuesday said that uncertain incidents have occurred during the last few days and we are considering the effects of increase in the price of oil.
Addressing a press conference along with Adviser to the Prime Minister on economy and finance Dr Abdul Hafeez Shaikh at the finance ministry on Tuesday, he said that very little time has gone by since the commencement the programme and the government is working to make the exchange rate according to the market.
Azour said that no changes were being made to the programme s targets for the time being.
The IMF’s Central Asia director went on to say that measures have been taken to reduce imbalance, adding that Prime Minister Imran Khan has assured them of implementation on the programme.
“Implementing the programme will bring stability in the country,” he said and added it is a structural reform programme that will bring economic stability.
Azour said Pakistan had showed impressive performance by carrying out economic reforms in accordance with the Extended Fund Facility of the International Monetary Fund (IMF), adding that it is a new programme and it is important to give some time to the government for taking more reform measures to show good results.
Pakistan, he said, was trying to take number of reforms in various sectors of the economy.
“In fact the reform process started well ahead of the IMF programme with Pakistan, which showed the seriousness of the government in achieving stability of the country’s economy.”
The IMF’s director said revenue growth of Pakistan is very encouraging and a 30 percent increase in revenues reported by the Federal Board of Revenue were encouraging.
He said: “This isn’t IMF’s but the government’s programme and Pakistan will be given US$6 billion under the programme, however, the complete programme is of US$36 billion. Pakistan needs sustainable reforms.”