Pakistan Business Council Seeks Five-year Financial Plan from IMF

Pakistan Business Council Seeks Five-year Financial Plan from IMF

Karachi: The Pakistan Business Council (PBC) has requested the International Monetary Fund (IMF) to ensure a sustainable 5-year plan to support the struggling economy of Pakistan. This long-term plan will also boost the cash-strapped businesses in the country. This was conveyed to the IMF`s representative, Esther Perez Ruiz in a letter from PBC.
Read more: Pakistan Seeks Loan Deadline Extension World Bank: Dasu Hydropower Plant

According to the sources, the appeal of PBC is presented in the midst of newly initiated talks with IMF by the newly elected Prime Minister, Shahbaz Sharif. The $3 billion standby programme of IMF is also expiring in April 2024. TH PBC also mentioned that state-run organisations also impede fair competition for the business. It also urged that the government must not be part of the competition to ensure transparency and maintain a healthy business environment in the country. The entity also requested the IMF to ensure a long-term assistance programme due to worsening economic indicators, especially for the past 2 years.
Read more: Pak Govt Soon to Finalize Agreement on Beijing Loan for ML-1 Project

It is also pertinent to mention that the incoming IMF programme must address the symptoms rather than just treating the wounds. The main causes must be cured to fix the economy through this long-term financial plan. Free and fair competition must also be ensured for business growth.

Investing in plots or apartments is a personal choice but for further clarification, please visit Fuldax Marketing.