New IMF deal crucial to consolidate economy: PM Shehbaz

Prime Minister Shehbaz Sharif reiterated once again that the government was planning to enter a new program with the International Monetary Fund (IMF), which he said, was very important to consolidate the country’s economy.

“With the new IMF program, the international institutions will have more trust in us, and we will be able to move forward on the agenda of development and prosperity with more confidence,” the prime minister said while speaking with the participants of the cabinet meeting held here under his chairmanship.

He said the finance minister was going to Washington this month with a delegation to participate in the IMF spring meetings, where he will also discuss details of the new program with the IMF.

He said although the terms of the new deal would not be so easy, the government would shift the burden of the tough conditions from the less privileged to the wealthier.

The prime minister hoped that after the IMF board meeting, the last tranche of the existing standby agreement worth $1.1 billion would be disbursed to Pakistan this month.

With regard to PIA’s divestment, he said the privatization process of Pakistan Airlines was on track, and the schedule set for the process would be fully implemented.

Regarding the outsourcing of the airports, PM Shehbaz Sharif said a Turkish company was arriving in Islamabad on April 6, and would negotiate the outsourcing process with the Pakistani authorities.

About the digitization of the Federal Board of Revenue (FBR), the prime minister informed that the consultants for the digitization process would be appointed by the end of the current month.

Prime Minister Shehbaz Sharif said he recently chaired a meeting of the Special Investment Facilitation Council (SIFC) in which details of various sectors including finance, investment, exports, Information Technology, agriculture, power, and petroleum were discussed.

“After a detailed meeting, it was decided that I will personally review the sector-wise performance to solve the problems faced by the sectors and to streamline the country’s economy,” he added.

The prime minister pointed out that the government had fulfilled its due responsibility with respect to the inquiry of the matter of a letter by the Islamabad High Court judges by forming an inquiry commission led by former Chief Justice Tassaduq Hussain Jillani. Afterward, he said Tassaduq Hussain Jillani refused the commission; subsequently, the Supreme Court took a suo motu notice of the letter.

As regards receiving letters from the judges with suspicious powder, the prime minister said the government was investigating the matter. “The government, with a sense of responsibility, will also probe this matter to uncover the reality.”

With respect to the security of the Chinese workers and engineers, the prime minister said the government was evolving a foolproof system for the security of the Chinese workers.

The prime minister said the cabinet presented the finance division’s Fiscal Policy Statement for the financial year 2022-23, the Debt Policy Statement for the financial year 2022-23, and the Year-End Government Performance Monitoring Report in the meeting. The federal cabinet approved the submission of the above statements/report to the National Assembly under prevailing laws, he said.

The meeting was told that the cabinet, on the recommendation of the Foreign Affairs Division, allowed former Chief of Naval Staff Admiral Muhammad Amjad Khan Niazi to receive the “King Abdul Aziz Medal Badge of Honor of Excellent Class” on behalf of the Government of Saudi Arabia and “Darjah Kepahlawan Angkatan Tentera” on behalf of the Government of Malaysia.

On the recommendation of the Human Rights Division, the cabinet approved the appointment of the members of the National Commission for the Status of Women.

Likewise, on the recommendation of the Ministry of Human Rights, it approved the abolition of the National Commission for Child Welfare and Development, the National Child Protection Center, and the Implementation of the National Line of Action for Children, which are offices working under the Ministry of Human Rights.

All the employees of these departments who are civil servants would be included in the surplus pool of Pakistan, the meeting was told.

The meeting was also informed that under the National Commission on the Rights of Child Act 2017, the National Commission on the Rights of the Child had been established; therefore, all other departments had become unnecessary as all the work related to these institutions is done by this commission. Keeping in view the austerity policy of the government, it has been decided to close these institutions, the meeting was told.