Pakistan Needs To Develop Trustworthy Relations With IMF: Ali Pervaiz Malik

Pakistan needs to develop trustworthy relations with IMF: Ali Pervaiz Malik

ISLAMABAD, (UrduPoint / Pakistan Point News - 17th Jun, 2024) Minister of State for Finance and Revenue Ali Pervaiz Malik said on Sunday that keeping long-lasting and trustworthy relations with the IMF is in the interests of Pakistan, as it is crucial for opening the capital market.

Talking at a private news channel, he said that when the ex-Prime Minister Imran Khan government was overthrown through constitutional means, he gave unfunded fuel subsidies that created a confidence gap with the IMF.

The IMF has set a framework, and we have to perform within it. We have to increase our revenues or reduce our expenses, he added.

While commenting on taxes in budget 2024–25, he added that we have to achieve the target of $1300 billion in taxes, and if there are any anomalies in the budget regarding taxes, we, along with our coalition partners, will try to balance them.

In the past, Pakistan got sufficient funds from other countries either through the contents of the Collision Support Fund or else, but now the world wants to see how we survive on our own resources, he further remarked.

He also said a high-power Ministerial Committee has been constituted that will work out how government expenditure could be reduced, and the prime minister has also announced to shut down the PWD in order to reduce the expenditure.

Relief to exporters is a landmark step for the incumbent government, and it reflects that the government is aware of the challenges faced by every segment of society, he added.