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Pakistan

APP
May 16, 2019

IMF programme to boost Pakistan's economy: Dr Abdul Hafeez Shaikh

Pakistan

APP
Thu, May 16, 2019


KARACHI: Advisor to Prime Minister on Finance, Revenue and Economic Affairs Dr Abdul Hafeez Shaikh Thursday said that country's economy would be improved after implementation of IMF program.

Addressing a meeting with the business community at the Sindh Governor House, he said that different programmes were needed for the stabilization of economy of the country, according to a statement.

Also present in the meeting, Federal Board of Revenue (FBR)Chairman Syed Shabbar Zaidi said that Amnesty Scheme is fully supported by all the business community.

Sindh Governor Imran Ismail said that the government wanted toaddress the problems of trade community and Sindh Industrial Liaison Committee has been formed in this regard.

Later, addressing a press conference Advisor to Prime Minister on Finance Abdul Hafeez Sheikh said the government is taking several measures to improve economic conditions.

"The government has set three new priorities in the upcoming budget which include fulfilling of basic masses needs, reducing expenditures and increasing the tax collections," said Hafeez Sheikh.

The Advisor said through this agreement Pakistan will get $6 billion on low interest rate from IMF while we would also get two to three billion dollars from World Bank and Asian Development Bank (ADB).

He said that prices of electricity would be increased, however the consumers of less than 300 units would not be affected.

The business community has been consulted on budget.

Hafeez Sheikh said that the amnesty scheme would prove to be fruitful for the economy of the country.

The Finance Advisor informed that the government would allocate around 800 billion rupees for the development programs in the next budget.

The government has improved the governance.

He said Raza Baqir is well known and expert economist and Shabbar Zaidi possess expertise in tax affairs.