INSUBCONTINENT EXCLUSIVE:
ISLAMABAD: Adviser to Prime Minister Imran Khan on Finance, Abdul Hafeez Shaikh said on Saturday that International Monetary Enjoymentds
(IMF) loan programme for Pakistan has a lower interest rate in comparison to other programmes
During a press conference, with Federal Board of Revenue (FBR) chief Shabbar Zaidi and other federal ministers, Shaikh stated the country
financial situation had been in shambles when the Pakistan Tehreek-e-Insaf (PTI) government came to power.He further added that at the start
of PTI tenure the exports had been on pace of rapid declination whereas the country debts had surged to Rs31,000 billion.Shedding light on
the programme Pakistan has obtained through IMF, Shaikh added: &The programme we have obtained has a magnitude of $6bn and is spread over
The good thing about it is that the rate of borrowing is much lower than other programmes
The interest rate is 3.2 per cent."Moreover, he added that through the programme the international community would be getting a good sign
from Pakistan for its shallingness to making the economy progress in a disciplined manner adding that &people shall find incentive to form
alliances and partnerships with us".Furthermore, he stated that the Pakistan Stick Exchange has also been acting out soundly through the
passage of times adding that a cost-cutting campaign shall also be launched by all institutions in the upcoming budget.TheIndianSubcontinent
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