LAHORE – SAARC Chamber of Commerce and Industry former President Iftikhar Ali Malik emphasised that the IMF bailout package is crucial for implementing structural reforms, reducing fiscal deficits, controlling inflation, and stabilising the economy.
He believes this support will also enhance the country’s long-term economic prospects and help address balance of payments issues. In a statement issued here on Sunday, he lauded the key role of Prime Minister Shehbaz Sharif, Deputy Prime Minister Ishaq Dar for making best possible efforts to secure the IMF programme mainly aims to address economic imbalances, strengthen the fragile economy, and restore investors confidence. He said increased foreign exchange reserves provides a boost to Pakistan foreign exchange reserves which he added can help restore confidence in the country’s ability to meet its international obligations and provide a buffer against external shocks.
He said IMF programmes would help implement structural reforms in areas such as taxation, public expenditure, financial sector, and governance. These reforms aim to address deep-rooted economic issues and can have long-term benefits for the economy, he added. Iftikhar Ali Malik praised the Prime Minister’s visionary approach and wisdom, highlighting their crucial role in garnering support from friendly countries to secure the IMF deal. He said now it’s high time “PM Economic Revival Plan” must focus on unlocking their strategic potentials attracting foreign investments and create job ample opportunities, he concluded.
