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ICCI welcomes revival of IMF bailout program for Pakistan

ISLAMABAD ( Web News )

The Islamabad Chamber of Commerce & Industry (ICCI) has welcomed the revival of the IMF bailout program for Pakistan and termed it a positive development for the economy as it would pave the way for the opening of other international financing channels to Pakistan and help revive our struggling economy.

Muhammad Shakeel Munir, President, Islamabad Chamber of Commerce & Industry said that Miftah Ismail, Federal Finance Minister has made great efforts to get the IMF program back on track and he congratulated the Finance Minister for achieving this success for Pakistan. He further said that Miftah Ismail had to take some very tough decisions for the revival of the IMF bailout program and hoped that with the improvement of our economy, the government would miss no opportunity to provide all possible relief to the inflation-stricken people. He said that the approval of the IMF Board to the seventh and eighth reviews of Pakistan’s bailout program has allowed the release of over USD 1.1 billion to Pakistan, which would help in improving our foreign reserves and bringing some sort of stability to our fragile economy.

ICCI President lauded the pledge of Prime Minister Mian Muhammad Shehbaz Sharif to finish the IMF program successfully and enable the country to exit from such programs by making it self-sustainable. He said that Pakistan’s economy was already facing great challenges while the recent flash floods in all provinces of the country have created new difficulties due to heavy loss of human lives, livestock, crops and infrastructure. He appealed to all the political parties to rise above their political differences, stop blame game and join hands to make collective efforts for the relief and rehabilitation of displaced flood affectees in all flood-hit areas of Pakistan.

Jamshaid Akhtar Sheikh Senior Vice President and Muhammad Faheem Khan Vice President ICCI said that Pakistan comes first for every citizen of the country, therefore, ICCI will always support the moves which are made in favour of Pakistan and strongly condemns the elements working against the interest of the economy and people of Pakistan. They further said that if anyone attempts to create problems for the revival of the economy in these difficult times, the business community would strongly oppose such moves and would condemn them in strongest words.


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