PM Shehbaz Sharif Vows to Make Current IMF Program Pakistan’s Last, Pushes for Economic Reforms

Prime Minister Shehbaz Sharif has expressed his resolve to make the ongoing International Monetary Fund (IMF) program the final one for Pakistan. Addressing the federal cabinet, the Prime Minister emphasized the importance of fulfilling IMF requirements promptly and highlighted the need for continued reforms to ensure long-term economic stability.

Shehbaz Sharif stated, “Keep in mind that this should be Pakistan’s last IMF program,” indicating the government’s commitment to addressing the country’s economic challenges without relying on future IMF interventions. He expressed optimism that the necessary measures to meet IMF conditions will be implemented in time, allowing Pakistan to embark on a new economic journey.

During the meeting, the Prime Minister also focused on reducing unnecessary government expenditures by accelerating right-sizing and downsizing initiatives. He stressed the need to cut costs to enhance economic efficiency and reduce the burden on the national economy.

Shehbaz Sharif also highlighted a positive development in Pakistan’s economic indicators, noting that the inflation rate had dropped to 9.6% in August, the first single-digit figure in nearly three years. “The burden of inflation is gradually easing,” he remarked, suggesting a slow but steady improvement in the country’s economic situation.

The Prime Minister congratulated Finance Minister Ishaq Dar and other officials for their efforts in managing the economy, asserting that Pakistan has the potential to overcome its challenges through collective effort and determination. He acknowledged that the path to economic recovery is difficult but emphasized that it is not impossible.