ISLAMABAD - Minister of State for Finance and Revenue Aisha Ghaus Pasha on Wednesday said that the staff level agreement with the International Monetary Fund (IMF) would be finalized after verification of financial inflows from the friendly countries. She said that all the prerequisite actions of the IMF have been taken and the only touch point is external financing which is being verified by the IMF from China, UAE and Saudi Arabia.
She claimed that all the three neighbouring countries have extended full support in this regard. However, the verification is still pending and after verification the deal will be finalised. The State Minister made these remarks in the Senate Standing Committee on Finance and Revenue, which met on Wednesday under the chairmanship of Senator Saleem Mandviwalla here at the Parliament House. The minister briefed the committee after it inquired about the fate of deal with the IMF and its demands.
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Senator Mohsin Aziz lamented the delay in the deal even after having the country gone through dire economic consequences in shape of inflation, joblessness, halting of trade and industry. At the outset of the meeting the Senate Finance Committee took detailed briefing by the Chairman Exchange Companies Association of Pakistan on the issue of foreign exchange dollar instability.
The association discussed various recommendations and assured that if policies are revised and restrictions are relaxed keeping in view the current economic situation of the country, dollar stability can be achieved. He said that Pakistan is an economically stable country if focus is given on agriculture and natural resources. He said that it doesn’t require an IMF deal.