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IMF delegation meets Ishaq Dar

IMF delegation meets Ishaq Dar

ISLAMABAD: A four member delegation of International Monetary Fund comprising Mr. Jafar Mojarrad, Executive Director, Masood Ahmed, Director IMF, Mr. Jaffrey Franks, Mission Chief IMF and Mr. Mansoor Dailami, Senior Representative IMF called on Finance Minister Senator Mohammad Ishaq Dar at his office.

During the meeting which was held in a very cordial atmosphere both sides resolved that the purpose of the programme was to put Pakistan’s economy in a dynamic emerging market.

The IMF delegation congratulated the Finance Minister on the successful conclusion of the programme and said that the IMF would continue to work with Pakistan and augment its efforts through the entire process.

Mr. Jaffar Mojarrad said that IMF recognized the difficult economic situation faced by Pakistan and appreciated the hard decisions taken by the present government even before starting negotiations with IMF. This he said signalled the seriousness of purpose of the present government.

The IMF delegation was of the opinion that already Pakistan is witnessing the benefits of entering into a programme as international donors felt comfortable.

The IMF delegation informed the Finance Minister that there was a lively discussion when the programme was put on the agenda of the board and members evinced keen interest and support for the programme. This programme could be a turning point for the transformation of Pakistan’s economy, the delegation hoped.

Senator Ishaq Dar said that the July-August 2013 figures for tax revenue showed a growth of 20% as compared to two and a half percent in the last year, FBR he said had already issued notices to 10935 new assesses, there was a current account surplus of 46 million dollars in July 2013, growth of 9% in exports and record remittance of 1.4 billion dollars in July 2013. He said that he was encouraged by these results and confident that the targets set out by the government would be achieved as “things are shaping up”.

In response to an offer made by IMF delegation for technical assistance Senator Ishaq Dar thanked the IMF for the offer.

Senator Ishaq Dar said that despite inheriting a fragile economy because of the inactions on the part of previous government, the present government had taken hard decisions to stabilize the economy and introduce structural reforms

The Finance Minister expressed the confidence that both the sides will work actively in future as well. The meeting was also attended by Chairman FBR and seniors officials of Ministry of Finance and Economic Affairs Division.