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Structural reforms to stabilise economy: FinMin

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KARACHI – Finance Minister Muhammad Aurangzeb emphasised the importance of implementing a structural reform agenda to steer the national economy towards stability.

Speaking at the Gong ceremony at the Pakistan Stock Exchange in Karachi this morning, he highlighted the necessity of exploring non-traditional sectors to bolster the national economy.

Aurangzeb noted that the economy is progressing in the right direction due to the government’s initiatives.

Furthermore, Minister Aurangzeb mentioned that the country is embarking on a significant program with the International Monetary Fund (IMF).

He informed that discussions with the IMF are scheduled for April 14 and 15 in Washington to deliberate on the features of the new program. However, a detailed discourse on the program will also take place in Pakistan.

Acknowledging the caretaker government’s efforts to enhance the economy, Aurangzeb stressed the importance of the caretaker staff-level agreement with the IMF for economic stability.

He emphasized the vital role of the stock market in economic improvement, expressing optimism about its positive trajectory.

Moreover, Aurangzeb highlighted a 5 percent growth in the agricultural sector, particularly in rice and wheat yields. He mentioned the government’s swift actions towards reforms in the Federal Board of Revenue (FBR), aiming to address tax leakages and expedite the resolution of pending cases.

Aurangzeb attributed the decrease in inflation and stability in the exchange rate to the measures taken during the former caretaker regime, commending Shehbaz Sharif for the SBA agreement during his tenure.

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