Ishaq Dar sought US help for the revival of IMF program

[HAIDER]

US help sought for IMF programme revival​

Khaleeq Kiani Published January 26, 2023 Updated about 2 hours ago




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Finance Minister Ishaq Dar meets US delegation Robert Kaproth, Deputy Assistant Secretary of the Department of Treasury, in Islamabad on Wednesday. — PID photo
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ISLAMABAD: Pakistan on Wednesday sought the US support in reviving the IMF programme to facilitate soft landing of its economy marred by exogenous challenges like floods and adverse global economic conditions.
During a meeting on Wednesday, Finance Minister Ishaq Dar asked a visiting US delegation to help convince the Washington-based multilateral lender to be lenient towards Pakistan in restoring the programme while understanding the challenges created by floods and other external factors.
The delegation was led by Robert Kaproth, Deputy Assistant Secretary of the Department of Treasury.
Mr Dar, according to informed sources, told the visitors that Pakistan would honour all its international commitments and was in the process of taking “very tough decisions”, including increasing the prices of natural gas and electricity and other measures “even beyond the call of IMF”, to put the country on path to stability through reforms.
However, he pointed out, Pakistan required breathing space as the industry and agriculture had passed through most challenging times after the devastating floods.



As the US team wanted to understand Pakistan’s challenges, including erosion of its currency, the minister explained that besides domestic issues, the rupee was also under pressure because of the smuggling of foreign currencies, particularly the US dollar, to Afghanistan and Iran where too the greenback was in short.
According to an official statement, the minister said the present government had inherited weak economic legacy.
“Despite challenging economic conditions, the government is focusing on fixing things in right direction and introducing reforms in all sectors, including energy sector and capital market, to achieve economic growth and development,” it added.
Mr Kaproth underscored the need for good relations between the two countries and expressed confidence in the policies and programmes of the government for economic and financial stability, according to the finance ministry.
Mr Kaproth extended his support and cooperation on economic and financial issues.
Senior officials of both countries attended the meeting.
Published in Dawn, January 26th, 2023

 

[epebble]

US help sought for IMF programme revival​

Khaleeq Kiani Published January 26, 2023 Updated about 2 hours ago




0

Finance Minister Ishaq Dar meets US delegation Robert Kaproth, Deputy Assistant Secretary of the Department of Treasury, in Islamabad on Wednesday. — PID photo
LISTEN TO ARTICLE1x1.2x1.5x
ISLAMABAD: Pakistan on Wednesday sought the US support in reviving the IMF programme to facilitate soft landing of its economy marred by exogenous challenges like floods and adverse global economic conditions.
During a meeting on Wednesday, Finance Minister Ishaq Dar asked a visiting US delegation to help convince the Washington-based multilateral lender to be lenient towards Pakistan in restoring the programme while understanding the challenges created by floods and other external factors.
The delegation was led by Robert Kaproth, Deputy Assistant Secretary of the Department of Treasury.
Mr Dar, according to informed sources, told the visitors that Pakistan would honour all its international commitments and was in the process of taking “very tough decisions”, including increasing the prices of natural gas and electricity and other measures “even beyond the call of IMF”, to put the country on path to stability through reforms.
However, he pointed out, Pakistan required breathing space as the industry and agriculture had passed through most challenging times after the devastating floods.



As the US team wanted to understand Pakistan’s challenges, including erosion of its currency, the minister explained that besides domestic issues, the rupee was also under pressure because of the smuggling of foreign currencies, particularly the US dollar, to Afghanistan and Iran where too the greenback was in short.
According to an official statement, the minister said the present government had inherited weak economic legacy.
“Despite challenging economic conditions, the government is focusing on fixing things in right direction and introducing reforms in all sectors, including energy sector and capital market, to achieve economic growth and development,” it added.
Mr Kaproth underscored the need for good relations between the two countries and expressed confidence in the policies and programmes of the government for economic and financial stability, according to the finance ministry.
Mr Kaproth extended his support and cooperation on economic and financial issues.
Senior officials of both countries attended the meeting.
Published in Dawn, January 26th, 2023

What do these mean then?

PM Shehbaz reiterates Pakistan’s desire to complete 9th review of IMF programme​

PM Shehbaz reiterates Pakistan’s desire to complete 9th review of IMF programme

"We are ready and want to sit down regarding your conditions so that it can be concluded and Pakistan can move forward," he says.

www.dawn.com

PM ready to sacrifice ‘political capital’ at IMF altar​

PM ready to sacrifice ‘political capital’ at IMF altar

Says Fund informed of government's willingness to conclude loan programme.

www.dawn.com

 

[HAIDER]

What do these mean then?

PM Shehbaz reiterates Pakistan’s desire to complete 9th review of IMF programme​

PM Shehbaz reiterates Pakistan’s desire to complete 9th review of IMF programme

"We are ready and want to sit down regarding your conditions so that it can be concluded and Pakistan can move forward," he says.

www.dawn.com

PM ready to sacrifice ‘political capital’ at IMF altar​

PM ready to sacrifice ‘political capital’ at IMF altar

Says Fund informed of government's willingness to conclude loan programme.

www.dawn.com

The situation is beyond control, they are still artificially controlling the dollar. Today govt try control the dollar at 243, the open market rate is 253..govt rate 230. Plus, the elite is not willing to sacrifice their luxury. Still importing billions of dollars of luxury cars and massive forex follow outside Pakistan.

 

[epebble]

The situation is beyond control, they are still artificially controlling the dollar. Today govt try control the dollar at 243, the open market rate is 253..govt rate 230. Plus, the elite is not willing to sacrifice their luxury. Still importing billions of dollars of luxury cars and massive forex follow outside Pakistan.

I am starting to feel that there is no government as such, and it is just a mob of people each doing whatever it feels like. A giant flea market.

 

[HAIDER]

I am starting to feel that there is no government as such, and it is just a mob of people each doing whatever it feels like. A giant flea market.

Right, there is no govt policy. Anyone can sell the dollar in Pakistan from 260 to 280 easily. There is no official buying rate ...i mean realistic selling and buying rate.
Due to massive corruption non international financial bodies trust them. They want Pakistan to have free fall. Otherwise, these elites will not be fixed.
This stupid Finance minister's 4th term and he begging for leniency from financial institutions or landing institutions................................... unbelievable.

 

[AZ1]

yeh plan hei? lol