Army Chief General Qamar Javed Bajwa has contacted the authorities of Saudi Arabia and the United Arab Emirates.
According to Geo News, Army Chief General Qamar Javed Bajwa discussed the IMF program in a conversation with officials of Saudi Arabia and the UAE.
Sources say that as a result of the Army Chief’s communication, the good news is expected for Pakistan soon.
A few days ago, the Army Chief also contacted the US Deputy Secretary of State
It should be noted that a few days ago Army Chief General Qamar Javed Bajwa also contacted the US Deputy Secretary of State and requested to put pressure on the IMF for an early loan.
Earlier, International Monetary Fund (IMF) representative in Pakistan, Esther Pires Reese, said that Pakistan has fulfilled the preconditions of joint review by increasing the Petroleum Development Levy (PDL).
Sources say that the IMF Executive Board meeting is expected on August 24 in which the agreement with Pakistan will be approved.
When was the agreement between Pakistan and IMF?
The agreement for the loan between Pakistan and the IMF was concluded on July 14, in which the IMF announced that the matters of the seventh and eighth reviews under the EFF have been settled, however, the IMF board agreed to the agreement. will give final approval.
Finance Minister Miftah Ismail announced the agreement with the IMF via Twitter and shared the agreement.
Important points of the IMF statement
Pakistan will have to maintain exchange rate stability based on supply and demand, along with prudent monetary policy and improved efficiency of public institutions.
1 billion 17 million dollars will be available to Pakistan, but Pakistan will have to strictly adhere to the recent budget, the provinces have assured to limit the budget deficit.
Export refinance schemes will continue to be linked to interest rates, to control corruption, electronic asset declaration is underway in Pakistan, and the government of Pakistan will work to improve the effectiveness of anti-corruption agencies including NAB.
