
Finance Minister Muhammad Aurangzeb warned the people.
Islamabad: Federal Finance Minister Muhammad Aurangzeb has informed the public that short-term economic decisions will cause hardship to the public.
According to the details, Federal Finance Minister Muhammad Aurangzeb said in a press conference that Pakistan has no Plan B for resources from external sources, foreign and local investments have to be brought into the country, IPPs cannot completely ignore the agreements.
The finance minister said that a permanent solution will have to be found to overcome the structural and energy crisis of IPPs, but short-term decisions will increase the hardships of the people.
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He said that measures should be taken for economic development, if macroeconomic stability is not brought under the IMF agreement, the problems will increase.
The federal minister claimed that Pakistan’s rating is going to improve, a staff level agreement has been reached with the IMF, this will be the last program of the IMF.
He further said that during the visit to China, there was talk of shifting the coal power plants to local coal, we can move forward by working on this jointly, we have to move forward with both the Chinese and US blocs.
The finance minister said that we have to make all the investments in export industries, if we want to move forward then we have to abolish the status quo.
He said that if the reform process is not completed, the same situation will happen next year as well.
To get out of the economic clutches, the reform process has to be completed.
The economy cannot be stabilized by making short-term decisions continuously.
The finance minister said that there is only a gap of 7 billion rupees left on external financing, Pakistan will meet the gap of 7 billion rupees on external financing, this gap of 7 billion dollars will be closed before the IMF Executive Board meeting.