Pakistan Controls Inflation, Government Expenditure, Reduces Revolving Debt, IMF – Business & Economy

After approving 1.1 billion dollars for Pakistan, the IMF issued a statement according to which Pakistan has successfully completed the standby program of 3 billion dollars.

The IMF said that Pakistan has controlled inflation and government expenditure, controlling government expenditure has achieved the target of maintaining a current account surplus, Pakistan has controlled revolving credit.

The world body also identified the reforms needed in the future.

The IMF said that it provided financial assistance to Pakistan to remove domestic and external imbalances, Pakistan controlled inflation by following a fiscal policy, focused on reforms in government-owned enterprises, and improved macroeconomic conditions during the program.

IMF said that 2% growth rate is expected in Pakistan’s economy this fiscal year, inflation is expected to reach 20% by the end of this fiscal year.

According to the World Organization, the financial reserves of the State Bank became 8 billion dollars, the tariff adjustment played a role in reducing the revolving debt in the energy sector, the revolving debt was reduced by increasing the collection.

The IMF said that reforms in the energy sector are necessary, steps must be taken to protect the poor, and anti-corruption institutions must be strengthened.