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Agreement with the IMF to stimulate economic growth: Hafeez Shaikh

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3:01 pm | February 17, 2021

Federal Finance and Revenue Minister Dr Abdul Hafeez Shaikh said on Wednesday that the staff level agreement between the International Monetary Fund (IMF) and Pakistan would help improve exports and investment; and lead the country towards economic growth.

Speaking to reporters outside of Pakistan’s Election Commission, the federal minister said that due to the deal, investors from the world and financial markets would be drawn to Pakistan.

It is relevant to mention here that the IMF and Pakistan have reached a staff level agreement on the second to fifth review of the country’s reform program under the IMF’s Extended Financing Mechanism (EFF).

This agreement is subject to the approval of the IMF Executive Board and after the completion of reviews, approximately US $ 500 million will be released.

Hafeez Shaikh, while speaking about the Senate elections, said that every individual and party has the democratic right to have their opinion and participate in the elections.

“Ultimately, the electorate; and in our case, the members of the National Assembly will decide who will be the member of the Pakistani Senate ”, he said and expressed the hope that Imran Khan and Pakistan Tehreek-i-Insaf will win.

The minister said that the qualities that set the PTI and its leader apart from other parties and people were that Imran Khan had only one interest, that of making the Pakistani people prosperous and increasing their respect and that of his country.

The second quality that sets Imran Khan apart from the leaders of other parties is that his goal is to protect and increase the country’s cash flow. He prefers the country’s treasury to his family affairs and politics, Hafeez Shaikh said.

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