Expressing his gratitude, Prime Minister Shehbaz regrets the delays from the International Monetary Fund (IMF) in providing the anticipated loan tranche.
Today, during the signing ceremony of the Memorandum of Understanding (MoU) for the construction of the Chashma 5 Nuclear Power Plant, Shehbaz emphasizes the remarkable assistance and support extended by China, stepping in to aid and rescue Pakistan.
While other countries have also lent their support to Pakistan, the financial backing from China holds particular significance at this moment. The premier acknowledges that China’s assistance deserves boundless appreciation.
Shehbaz acknowledges that Pakistan has fulfilled the conditions for the IMF’s ninth review but is encountering unforeseen delays. Nevertheless, Saudi Arabia, Qatar, and China have come forward to assist Pakistan during this challenging time.
Additionally, Shehbaz extends his gratitude to the Pakistan Army for their deep interest and involvement in this project, which originated during the tenure of former Prime Minister Nawaz Sharif. The project had been abandoned by the previous government, and its revival is a testament to the unified efforts of the current civil and military leadership.
In an effort to bridge the gaps between Islamabad and the IMF regarding budget figures, the Prime Minister reached out to influential global capitals to raise awareness of Pakistan’s endeavors to revive the $6.5 billion bailout package. Pakistan has shown willingness to address the IMF’s concerns for the fiscal year 2023-24 budget, demonstrating a notable shift from the previous stance of Finance Minister Ishaq Dar, who opposed IMF’s advice on granting tax exemptions. The Ministry of Finance assures active engagement with the IMF to reach a mutually agreeable solution.
