Canada Global (Web News) Minister for Planning, Development, and Special Initiatives Ahsan Iqbal stated on Thursday that the government will comply with the International Monetary Fund’s (IMF) requirements for finishing the programme, assuring that the average person would not be harmed.
The federal minister claimed that because the previous administration “recklessly” approved the scheme, the current administration had no choice but to carry on with it in his speech to a gathering in Islamabad.
We need to make a lot of modifications, but we’ll make decisions based on what’s best for the state overall, he said, adding that we’ll work to make the people with low income least amount of the load.
In the face of a declining currency, rising inflation, dwindling foreign exchange reserves, and a stalled IMF programme, the administration faces a difficult task on the economic front.
The government has repeatedly promised that inflows will start this month, but nothing has happened to support those claims, which has sent the market into a frenzy.
Iqbal emphasised the necessity of mobilising all available resources to boost the nation’s productivity and exports in order to permanently eliminate its reliance on foreign loans.
“Pakistan’s productivity capability is quite poor as compared to the standard norm,” he claimed, adding that the nation could make billions of dollars from the agriculture industry alone if steps were taken to enhance crop yields per acre.
The federal minister claimed that Pakistan’s inability to integrate its productivity capability with the global market presents the biggest challenge in 75 years.