LAHORE: Prime Minister Shehbaz Sharif on Friday said the $3 billion Stand-By Agreement with the International Monetary Fund (IMF) will help in bringing economic stability and growth in the country.
The prime minster was a addressing a news conference in Lahore flanked by Finance Minister Ishaq Dar, Information Minister Marriyum Aurangzeb and Governor Punjab Baligh-ur-Rehman.
PM Shehbaz Sharif said the financial minister and his team made tireless efforts to reach the arrangement. He said the IMF Board will accord formal approval in its meeting scheduled on July 12.
The prim minister said nations never progress with loans but it was inevitable for the country to go for this agreement with the IMF. He said the government is committed to complete this programme but simultaneouslywill make efforts to achieve self-sufficiency in future.
PM Shehbaz Sharif said during the last three months, China helped Pakistan significantly by providing about $5 billion and saved the nation from default.
He also appreciated Saudi Arabia, UAE, Islamic Development Bank and other friendly countries for their generous help during the critical time. He also appreciated the efforts of Chief of Army Staff (COAS) Syed Asim Munir in helping secure the external financing from bilateral sources.
The prime minster said previous government of Pakistan Tehreek-e-Insaf (PTI) breached the deal with IMF and shacked credibility of the country.
He said the cheapest LNG during COVID-19 times was not signed and government of PTI purchased expensive fuel for the country. He said incumbent government has signed an agreement for LNG import with Azerbaijan at cheaper rate to benefit the country.
He said during the last one year, incumbent government signed agreements for import of wheat, fertilizer and energy on discounted rate and benefited the country.
PM Shehbaz Sharif said PTI resorted to negative propaganda and conspiracy against the country and tried to portray a picture of dismay about Pakistan at international level. He regretted that one person was imposed on nation through rigging who spoiled the economy of the country.
He said PTI tried to bring country on the verge of default by making negative attempts and inflicted heavy economic damage to country.
The prime minister said that he held a two meeting with IMF Managing Director in Paris and made telephonic call on her to secure the deal.
The prime minister also congratulated the entire nation on the eve of Eid-ul-Azha. He said the government has stabilized the national economy with the efforts of allied parties.
PM Shehbaz Sharif said that recent flood damaged the national economy to a great deal. He said May 9 incident will be remembered as black day in the history of the country.
