IMF chief: Pakistan needs to focus on welfare of people

ISLAMABAD: State Bank Governor Reza Baqir and Hammad Azhar held a virtual meeting with Kristalina Georgieva, International Monetary Fund’s (IMF) Managing Director.

According to sources, Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), said on Monday that Pakistan would direct all of its policies toward the welfare of its citizens.

She made the remarks during a meeting with newly appointed Finance Minister Hammad Azhar and Governor of the State Bank of Pakistan Reza Baqir.

Georgieva, However, Tweeted “I commended Pakistan’s response to the health and economic crisis” she also added, “we discussed the way forward for vital economic reforms and external financing needed to build a better future for Pakistan’s people.”

Pakistani officials and IMF, lately, held discussions on the occasion of the IMF/World Bank’s annual meeting which took place through an online platform this year.

Pakistani authorities are making requesting the IMF to adopt a flexible attitude in the wake of the third wave of coronavirus. IMF had placed tough conditions for imposing over Rs700 billion added taxes in the upcoming budget and increasing the electricity tariff by Rs5 per unit till June 2021.

Pakistan will have to increase the gas tariff in the next fiscal year.

According to Prime Minister’s Special Assistant on Power Tabash Ghaur that PM Imran Khan has demanded a halt in the increase in electricity tariff till June 2021.

If the PM’s instructions are followed, according to sources, the circular debt might cross the Rs2.587 trillion mark.

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