Islamabad, 18 November (IANS). The Government of Pakistan hopes that the forthcoming visit of the International Monetary Fund (IMF) mission will resume the bailout program in the country.
According to Jio TV’s Wednesday report, during a press conference in the presence of Information Broadcasting Minister Shibli Faraj, Prime Minister’s Advisor on Finance, Dr. Abdul Hafeez Sheikh said that within the next few weeks, discussions on revenue and power sector reforms in the country Mission members can come to do.
Sheikh said that the Bureau of Statistics of Pakistan has seen a decline in food inflation trends in the last three weeks. He said that due to shortage of 20-22 lakh tonnes, import of wheat has reduced the price of the commodity and the government is making efforts to reduce inflation.
The advisor claimed that the last four months saw no increase in Pakistan’s public debt. He said, it remained stable at Rs 36.4 trillion till 30 October 2020 with 30 June 2020. This indicated that the government was ensuring strict financial discipline.
Independent economists say that during the first four months when the country saw a budget shortfall, this recovery can only be called a juggernaut of data. Otherwise, the government will have to borrow to finance its deficit.
Sheikh said that the administration has reduced the current account deficit from $ 20 billion to $ 3 billion last year and paid Rs 5,000 billion as interest on public debt in the last two years.
Sheikh said the rupee remained stable, foreign exchange reserves reached $ 13 billion and the Federal Board of Revenue achieved a target of Rs 1,340 billion in four months. He said that the government paid Rs 128 billion in refunds in the first four months during this period of the last financial year.
MNS / SGK