There is no possibility of a big drop in the value of the rupee in the negotiations with the IMF, Finance Minister
Pakistan will work with US International Development Finance Corporation and EXIM Bank, Finance Minister Muhammad Aurangzeb’s interview
Finance Minister’s meeting with American officials, agreement to further strengthen Pak-US relations
The Finance Minister briefed the US officials on the reform agenda
Washington ( Web News)
Federal Minister of Finance and Revenue Muhammad Aurangzeb has said that there is no possibility of a big decrease in the value of Pakistani currency due to negotiations with the International Monetary Fund, Pakistan will work together with the US International Development Finance Corporation and EXIM Bank. He expressed his views while speaking in a Bloomberg interview and meetings with various delegations in Washington DC yesterday. Finance Minister Muhammad Aurangzeb met with US Assistant Secretary of State for South and Central Asian Affairs Donald Lowe and Principal Deputy Assistant Secretary of the US Department of State Elizabeth Horst. In an interview to Bloomberg, the Finance Minister said that in general, there is no justification for the excessive decrease in the value of the Pakistani currency by 6 to 8 percent per year. He said that this In the negotiations with the IMF, along with obtaining loans of billions of dollars to Pakistan, the implementation of the economic reform agenda in the country will be accelerated and there is no possibility of any major decrease in the value of the currency from these negotiations, in the foreign exchange reserves of Pakistan. has increased, the exchange rate is stable, remittances and exports have increased, the thing that can change everything is oil prices. He said that the present government wants to promote industries including agriculture and information technology, the government especially IT and agriculture. Paying special attention to increase the growth rate above 4 percent in the coming years. The Finance Minister said that the IMF mission to Pakistan will visit Pakistan in May and staff-level agreements for the new loan program in late June or early July. Hope for. Yesterday, the Treasury Minister met with US Deputy Secretary of State Donald Law and Principal Deputy Assistant Secretary of the US Department of State Elizabeth Horst at the World Bank headquarters in Washington DC. In the meeting, special emphasis was placed on cooperation between Pakistan and America in alternative energy sources, agriculture, dealing with climate change and climate adaptation and tech industry. The parties also emphasized the need to increase economic partnership. The finance minister also briefed the US officials about the reform agenda in Pakistan and said that the reform process includes broadening the tax base, solving energy sector problems and expediting the process of privatization of government institutions. He also identified emerging opportunities for US investment in IT, renewables, agriculture and minerals. The Federal Minister said that Pakistan will work closely with the US International Development Finance Corporation and EXIM Bank. The Finance Minister also met the Pakistan Staff Association of the World Bank IMF in Washington DC. informed about the reform agenda of the government and said that under it expansion of the tax base, reforms in the energy sector, digitization, privatization, public-private partnership are being focused on. Strict adherence to financial discipline is included in the reform agenda. Earlier, the Minister of Finance met with the representatives of Deutsche Bank. The Finance Minister appreciated the Bank’s cooperation with the Government of Pakistan in the past. The representatives of the bank briefed the Finance Minister on various transaction structures to assist the Government of Pakistan in accessing international capital markets. In the meeting, the establishment of a sustainable financial framework for the issuance of Green Sustainability Bonds was also discussed. Finance Secretary Imdadullah Bosal and other members of the Pakistani delegation were also present on this occasion.