Pakistan Finance Minister Muhammad Aurangzeb expressed high confidence on Sunday in his country's ability to secure a new funding programme from the International Monetary Fund following the approval of the cash-strapped nation's annual fiscal budget.Positive Talks with IMF
Aurangzeb emphasized that Pakistan is gearing up for further discussions with the IMF to secure a loan ranging between $6 billion and $8 billion, aiming to prevent a potential debt default in the region's slowest-growing economy. He highlighted at a press conference the government's commitment to obtaining the IMF programme to ensure economic stability.Optimistic Outlook
The finance minister stated, "We are taking it forward; it is inevitable. I'm very optimistic that we'll be able to take it through to the finish line for an Extended Fund Programme, which is going to be larger and longer in nature," as reported by local broadcaster Geo News.Parliamentary Approval
Pakistan's parliament recently passed the tax-heavy finance bill for the upcoming fiscal year, marking a crucial step towards financial stability. In April, Pakistan successfully concluded a short-term $3 billion programme, which played a vital role in averting a possible sovereign default.Looking Towards Economic Stability
The finance minister's remarks indicate a positive outlook for Pakistan's economic future, underscoring the country's efforts to address financial challenges and secure necessary funding. The ongoing discussions with the IMF signal a proactive approach towards maintaining economic resilience and overcoming fiscal pressures in the region.Conclusion
Pakistan's finance minister's unwavering confidence in securing a new IMF programme reflects the government's determination to navigate through financial uncertainties and pave the way for sustainable economic growth.