Federal Finance Minister Muhammad Aurangzeb has expressed hope that the IMF board meeting scheduled for today will approve a $7 billion loan program. Following this approval, he assured that the government would continue to implement tax, energy, and institutional reform agendas.
During a video link address at a discussion organized in collaboration with the Chinese embassy, he expressed gratitude to long-time friends China and Saudi Arabia for their cooperation in fulfilling the essential conditions for the loan.
He highlighted that the reform agenda and government policies are bringing macroeconomic stability to the country, stating that the government does not wish to incur internal debts and that banks should provide loans to the private sector.
Aurangzeb emphasized that now is the right time to engage in regional integration through the China-Pakistan Economic Corridor (CPEC). He noted that the first phase of CPEC focuses on infrastructure development, while the second phase aims to benefit from that infrastructure, bringing not only investment but also technology from China.
The Finance Minister mentioned that Pakistani and Chinese investment companies have already begun working on a $1 billion fund for regional joint projects.
In his address, Chinese Ambassador Jiang Zedong expressed a desire to further strengthen Pakistan-China relations. He welcomed the proposals discussed and stressed the need for both countries to enhance bilateral cooperation to maintain control over the development process and achieve positive outcomes.
