Pakistan has asked for the US help to revive the IMF program to assist soft landing of its economy post devastating floods and economic crisis.
A meeting was held on Wednesday in which Ishaq Dar, Pakistan’s Finance Minister, requested a US Delegation to convince the multilateral lender in the Washington DC to be a little lenient towards Pakistan.
Deputy Assistant Secretary of the Department of Treasury, Ropert Kaproth was leading the delegation.
The sources revealed that Dar has communicated to the visitors that Pakistan would fulfil all its international commitments and is also about to take some “very tough decisions.” The decisions will include a rise in the prices of electricity and gas amongst other measures “even beyond the call of IMF” to bring the country’s economy back on the track.
Dar added that Pakistan needs a breathing space after its agriculture and industry has faced the most challenging time post the natural calamities.
While telling about the current challenges Pakistan is facing, the Finance Minister said that in addition to the domestic issues, smuggling of foreign currencies also put a lot of pressure on Rupee.
Dar also said that his government was handed over a weak economy and they are still struggling with it.
“Despite challenging economic conditions, the government is focusing on fixing things in right direction and introducing reforms in all sectors, including energy sector and capital market, to achieve economic growth and development,” it said.
Senior officials from both the countries were present in the meeting.
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