Prime Minister Shehbaz Sharif on Wednesday said concern about the International Monetary Fund (IMF), which rejects Pakistan’s proposal to lower electricity awards, has now been put to rest.
When he spoke at a federal cabinet meeting, the Prime Minister said the IMF CEO Kristalina Georgieva indicated that the global lender is open to review Pakistan’s plan for reducing power tariffs if presented formally.
Shehbaz Sharif noted that during his visit to Dubai he discussed financial and investment issues with UAE president Sheikh Mohamed bin Zayed Al Nahyan, with Army Chief General Syed Asim Munir also present.
In addition, the Prime Minister met IMF’s CEO and raised concerns about high production costs affecting industrial growth. “We told the IMF that economic growth is only possible if production costs fall,” Shehbaz said, adding that the answer from the lender was positive.
He further stated that the IMF has appreciated the government’s results in the implementation of financial reforms, and in recognition of these efforts he had the cabinet welcomed the team’s results during the meeting.
When he discussed foreign relationships, Shehbaz Pakistan’s commitment to Saudi -Arabia confirmed and called the Kingdom a “trusted brotherly nation.” He assured that Pakistan would always support Saudi’s sovereignty and security.
By touching the humanitarian crisis in Gaza, Prime Minister Pakistan’s attitude at the Dubai summit repeated, highlighting that over 50,000 Palestinians have been killed. “This is genocide of the worst,” he said, expressing hope of peace in the region.
Shehbaz also pointed to an increase in transfers and attributed to the overseas Pakistanis’ confidence in the government. He promised further measures to facilitate posting.
On the recent Libya tragedy, where several Pakistanis lost their lives while trying illegal migration, the Prime Minister called on stricter action against human trafficking and called on authorities to put an end to the “black market” that jeopardizes life.
