Finance Minister Ishaq Dar Friday reiterated his commitment to transparency and accountability in financial matters, particularly concerning the Extended Fund Facility (EFF) agreement with the International Monetary Fund (IMF). During his address to the National Assembly session, the minister said: \u201cAny important developments in the country should be presented in the assembly\u201d. \u201cI will bring the documents of the IMF agreement in this House as the Finance Minister,\u201d Dar asserted, assuring the lawmakers and the public that he would make the necessary documents available for scrutiny and review. Regarding the Letter of Intent, Dar revealed that it had been signed on June 30. He asserted that the MEFP (Memorandum of Economic and Financial Policies) and PFP (Policy Framework Paper) were attached to the Letter of Intent. He announced his intention to keep one copy of the three documents associated with the agreement in the assembly library, making them accessible to all members. \u201cWe tried to surpass $1.4 billion,\u201d the Finance Minister stated, highlighting that every step of the contract process was completed with hard work and dedication. Dar also shed light on the review process, stating, \u201cAt that time, there was talk of the ninth review,\u201d revealing that the ninth review was initially scheduled for November. \u201cOverall agreement consisted of 11 or 12 reviews,\u201d he added. The Minister acknowledged the challenges faced during the agreement, stating, \u201cDuring this time, the agreement also came to a standstill,\u201d implying potential obstacles in implementing certain aspects of the EFF. Dar further added, \u201cWhen we took over the government, the reserves were 14 billion dollars.\u201d \u201cWe have made all payments and have not stopped any payments,\u201d the minister asserted, emphasizing the government\u2019s adherence to its financial obligations. On the subject of inflation, the Finance Minister revealed ongoing efforts to mitigate its impact, stating, \u201cEfforts are being made to come up with such a policy that will stop the storm of inflation.\u201d He further projected a cautious estimate, saying that if the policies were successful, inflation could be maintained at 7% within two years. Looking ahead to the future, Dar emphasized that the new government should make independent decisions, stating, \u201cIf the new government comes, it should make an independent decision.\u201d \u201cWe have fulfilled the conditions of IMF,\u201d he assured, highlighting the government\u2019s commitment to meeting the IMF\u2019s stipulations to ensure economic stability and growth.<\/p>\n","protected":false},"excerpt":{"rendered":"
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