‘Govt striving to stabilize economy’

ISLAMABAD: Rana Ihsan Afzal Khan, the prime minister’s coordinator for commerce andindustry, stated on Wednesday that the government, led by the Pakistan Democratic Movement (PDM), was working hard to stabilize the economy and leaving the following administration with a sound foundation. Speaking to the media, he explained that the IMF agreement covered general uncertainty following a successful IMF agreement, adding that the government had to make unpopular and strict decisions, but these were essential to protect the nation from the risk of default.

He further mentioned that it was very important for Pakistan to get the IMF programme as it would help achieve financial discipline and keep the country afloat.

Replying to a question, he said the Pakistani rupee also experiencing a significant gain against the US dollar in the interbank market, adding, the first IMF installment of $1.1 billion from IMF would be received in July. We would also receive $2 billion from Saudi Arabia and $1 billion from the United Arab Emirates (UAE) later this month.

The country’s current account deficit and the core inflation would also go down by the end soon, he highlighted.