New IMF loan program will increase Pakistan’s debt, report
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Islamabad: Economic research institute Prime has said that if Pakistan does not make timely reforms, this will not be the last program of the IMF.
The Economic Research Institute has released a report on the new loan program of Pakistan and the International Monetary Fund (IMF).
The IMF has released the first tranche of $1 billion for a new loan program, the Economic Research Institute says. And the first tranche of the new loan program will improve foreign exchange reserves.
The report said that the new debt program will further increase Pakistan’s debt. However, the loan program will help in obtaining external payments.
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According to Prime’s report, Pakistan cannot ignore economic reforms in the goals of the new program. While Pakistan is facing a shortfall of 98 billion rupees in the July-August tax target. The losses of government institutions are also continuously increasing.
The report said that there is a need to speed up the privatization program. And right-sizing to reduce government expenditure is the most important need of the hour.
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