Tarin says Pakistan to finalize IMF deal this week

Tarin says Pakistan to finalise IMF deal this week

All issues with the International Monetary Fund (IMF) have been resolved, and an agreement will be signed this week, according to Shaukat Tarin, Advisor to the Prime Minister on Finance and Revenue.
The advisor was speaking at the launch of the Pakistan Single Window (PSW), an ambitious, wide-ranging, and comprehensive reform initiative launched in the public sector in recent years.

The International Monetary Fund has resolved all issues. According to Shaukat Tarin

The advisor was speaking at the launch of the Pakistan Single Window (PSW), an ambitious, wide-ranging, and comprehensive reform initiative launched in the public sector in recent years.

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Last month, the de-facto finance minister was in Washington to lead the Pakistani delegation in talks with the IMF about reviving the $6 billion Extended Fund Facility (EFF). The agreement could not be signed due to a disagreement over some lending agency conditions.

Pakistani officials, on the other hand, have stated that there is no dispute and that the agreement will be signed soon.
Tarin stated on the occasion in Islamabad that the government’s job is to provide facilities to the people, adding that government employees’ salaries will not be delayed.

“To control inflation, we are providing targeted subsidies.” “It’s a global issue, and prices in the international market are beyond my control,” he explained. Concerning the amendment to the State Bank of Pakistan (SBP) rules, the finance advisor stated that the SBP law requires constitutional amendments and that we do not have a two-thirds majority to do so.

In reference to the recent cyberattack on the National Bank server, he stated that the enemy is in our midst.
According to the advisor, COVID-19 has had a negative impact on the global supply chain and trade over the last two years, while the cost of production and shipping has also increased.

He stated that the global economy is now recovering and that business activity will not only resume but will also grow at a much faster rate, so there is an urgent need to capitalize on this advantageous situation.

“The worst appears to be over, and as economies around the world begin to recover, we expect business activity to resume and, in fact, grow at a much faster pace.” “Pakistan and Pakistani businesses must be prepared to capitalize on new opportunities,” he said.

He stated that the PSW would not only facilitate international trade but would also help accelerate the digital transformation of public sector agencies involved in international trade.

He praised Pakistan Customs for spearheading this initiative, saying it was in line with the government’s vision of promoting competitiveness, transparency, and efficiency.

He stated that it was the government’s priority to help businesses, particularly small and medium-sized ones, by creating an enabling environment for growth and innovation and improving their competitiveness by lowering their costs and time to do business.

He anticipated that the single window would give Pakistani businesses and the trading community a comparative advantage in entering new markets and increasing exports.

In addition, he stated that it would aid in the fight against financial crimes and trade-based money laundering by integrating international shipping and databases, eventually enabling seamless connection in the dissemination of information to Customs, the State Bank of Pakistan, and other relevant agencies.

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