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An agreement on a new loan program from the IMF is essential


ISLAMABAD: A deal for a new loan program has been declared inevitable by the IMF.

According to ARY News, the monthly economic outlook report of the Ministry of Finance has been released in which the caretaker government has formulated an economic road map for the new government.

In the report, emphasis has been placed on reforms in FBR while privatization of loss-making institutions including PIA has also been emphasized.

The Ministry of Finance says in the report that the economy is on the path of recovery due to tough and unpopular decisions, the new government should make necessary reforms for restructuring the FBR.

The report states that governance, financial performance in government-owned institutions should be improved, medium term facility should be taken from IMF for difficult reforms.

According to the out report, the caretaker government has fulfilled the targets under the agreement with the IMF, the inflation will be 25.5% this month and 24.5% next month.

The Ministry of Finance says that subsidies have been limited for the IMF target, while exports in the first 7 months have increased by 9.3% to 18 billion dollars.

The report states that the non-tax revenue has increased by 116.5% from July to December 1979 billion rupees have been collected.

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