On Wednesday, Country Representative Terese Daban Sanchez said, Pakistan is all set to achieve some major goals including fiscal sustainability under the Extended Fund Facility [EFF], International Monetary Fund [IMF].
Speaking at a webinar at the Sustainable Development Policy Institute (SDPI), Ms Sanchez said it is being achieved through the strategy by removing exemptions and privileges, enhancing social and productive spending, coordination with provinces, and elimination of quasi-fiscal circular debt and losses of state-owned enterprises (SOEs).
The IMF representative emphasized that these goals are very important for the future direction of the country and include a market-determined and flexible exchange rate as well as an independent central bank with a primary focus on price stability.
Moreover, strengthening of social safety net to protect the most vulnerable is a key requirement in addition to strengthening institutions and bringing reforms, especially in the areas of public finance management, central bank’s autonomy, tax policy and administration, energy sector, SOEs administration and FATF etc.
