Economic experts are of the belief that the provided Extended Fund Facility by the International Monetary Fund (IMF) would take the country towards economic stability and would help in promoting growth.
The government would need to properly implement the IMF programme with full spirit for meeting the economic goals for development and growth, as was told by Dr Waqar Masood—the Former Secretary Finance on Monday.
He added that the government should go for the structural reforms in the economy of the country by introducing changes in the different sectors which include tax and energy division reforms.
Secretary Finance hoped that the present democratic regime would acquire the goal of economic development in the next few years by following the economic policies.
He added that after the success in the IMF programme, the doors of other agencies which lends like the Asian Development Bank (ADB), World Bank (WB) and other financial institutions would be opened for Pakistan and more foreign exchange reserves would come to Pakistan.
In the meantime, the Vice President of the Federation of Pakistan Chamber of Commerce and Industry (FPCCI) and renown industrialist—Dr Mirza Iftikhar Baig said that Pakistan had no other choice but to go the IMF for the Extended Fund Facility and now the government had the chance to follow the proper mechanism for economic development.
He said that the government has got an aggressive economic agenda and wants to decrease the circular debt to zero by 2020 for removing the deficits.
The country’s economy was managed by the IMF for boosting the credibility of the local economy.
He further said while responding to a question that Pakistan would attain economic stability in the span of next 2 years.