Prime Minister Muhammad Shehbaz Sharif has hailed the staff-level agreement with the International Monetary Fund (IMF) as a positive development for Pakistan’s economy.
Speaking at the Federal Board of Revenue (FBR) Headquarters on Saturday, the Prime Minister emphasized the government’s unwavering commitment to placing the country on a path of progress, underlined by consistent improvements in economic indicators.
PM Shehbaz directed FBR authorities to prepare for a concerted effort to serve the nation and alleviate the national debt. He instructed them to devise strategies and mechanisms to expand the tax base using the latest technology, ensuring that honest taxpayers are not further burdened.
“The journey ahead may be challenging, requiring collective and individual efforts, sincerity, sacrifices, and prioritizing national interests above all else,” he remarked.
He expressed optimism that the IMF’s board would approve the staff-level agreement, which is part of a 37-month, $7 billion aid package. This agreement provides much-needed relief to Pakistan’s struggling economy.
Prime Minister Shehbaz Sharif stated that it is now the responsibility of the authorities to act swiftly and diligently, aiming to make this IMF program the last in Pakistan’s history. He added that following this, the country would embark on a journey of progress and prosperity.
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PM Shehbaz expressed confidence that with collective and individual efforts, Pakistan could become a great and prosperous nation. He emphasized that to eliminate the national debt, the FBR should focus on taxing those who have not been paying their dues.
The Prime Minister highlighted the need for the country’s top tax officials to recognize the unfair burden repeatedly placed on honest taxpayers, including government employees who file their annual tax returns.
Pakistan’s economy has faced severe challenges due to chronic mismanagement, the COVID-19 pandemic, the impacts of the war in Ukraine, supply chain issues that fueled inflation, and record flooding that affected a third of the country in 2022.
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