ISLAMABAD, Jun 30 (APP): Minister for Planning, Development and Special Initiatives Professor Ahsan Iqbal on Friday welcomed the recent staff-level agreement between Pakistan and the International Monetary Fund (IMF), terming it as “good news” for the country.
The nine-month Stand-By Arrangement (SBA) worth approximately $3 billion was reached due to Prime Minister Shehbaz Sharif’s diplomatic efforts, he said in a statement.
He was of the view that the agreement would effectively address Pakistan’s economic challenges, stressing the need for concerted efforts and hard work to get the national economy free from the reliance on foreign aid.
Ahsan Iqbal also talked about the government’s 5Es Framework, comprising five key pillars including Exports, E-Pakistan, Environment and Climate Change, Energy and Infrastructure, and Equity and Empowerment, to turn around Pakistan and put it on sustainable growth trajectory.
He believed that this framework provided a “permanent solution” to the country’s economic challenges and expressed confidence in Pakistan’s ability to become a one trillion dollar economy by 2035, citing the potential of the country’s youth.
He stated that the IMF agreement would lead to rupee stability, attract foreign investment and help control inflation in Pakistan.