Prime Minister Shehbaz Sharif has called a meeting of the federal cabinet for Monday (tomorrow).
PM Shehbaz calls federal cabinet session: The federal cabinet will meet on Monday to discuss the country’s political and economic circumstances, per the summons issued by Prime Minister Shehbaz Sharif.
On June 30, Prime Minister Sharif stated that a three billion dollar Stand-By Agreement with the IMF will aid in the nation’s economic growth and stability.
He claimed that the committee led by Finance Minister Ishaq Dar worked nonstop to get to this agreement while speaking at a news conference in Lahore. He declared that the IMF Board will formally approve at its meeting on the 12th of the following month.
Although it was inevitable for the nation to pursue this arrangement with the IMF, Prime Minister Shehbaz Sharif claimed that countries never advance through borrowing.
According to him, the PDM parties will leave the government once their term is up, but the Election Commission of Pakistan (ECP) will announce the election.
According to Shehbaz Sharif, China considerably aided Pakistan over the past three months by contributing a little over $5 billion and saving us from default.
He also thanked Saudi Arabia, the United Arab Emirates, the Islamic Development Bank, and other friendly nations for their kind assistance during difficult times.
Prime Minister’s Efforts for Economic Revival and International Collaborations
The premier referred to the needless obstacles to the investigation of chiniot ore and Reko Diq and stated that the Economic Revival Plan will aid in attracting investment from Gulf states to advance Pakistan.
He claimed that the PTI government delayed purchasing expensive fuel for the nation and that the cheapest LNG during the COVID-19 era was not signed.
The current administration has, according to the prime minister, agreed to purchase LNG from Azerbaijan at a reduced price, which will be advantageous for the nation.
He claimed that over the previous year, the current administration signed contracts for the country’s favourable importation of oil, wheat, and fertiliser at reduced prices.
He stated that May 9 will go down in history as a dark day while discussing the incident that occurred on that day.
The prime minister claimed that in order to seal the deal, he met with the IMF managing director twice in Paris and spoke with her on the phone.