ISLAMABAD: The International Monetary Fund (IMF) has said in a statement issued after the staff-level agreement that the Pakistani authorities have promised to increase the prices of electricity and gas in a timely manner.
In the statement issued by the IMF, it is said that the economic and financial situation of Pakistan has improved, economic growth and confidence have been restored due to better policy management, it is hoped that the primary balance will remain up to 401 billion rupees and hope The primary balance will remain at 0.4 percent of the economy.
A staff-level agreement was signed between Pakistan and the IMF
The IMF statement said that growth is expected to remain modest this year and inflation is well above target, requiring continued policy and reforms to address economic weaknesses.
According to the statement, the Pakistani authorities are committed to increasing the tax base and the Pakistani authorities have promised to increase the prices of electricity and gas in a timely manner, and have expressed their determination to stop the increase in the revolving debt by increasing the energy prices.
The statement further said that the State Bank has asked to maintain the interest rate to reduce inflation while the State Bank will maintain transparency in the foreign exchange market.