Chairman Pakistan Indonesia Business Council (PIBC), Abid Nisar, has hailed the agreement with the International Monetary Fund (IMF) as a crucial step for the economic revival of Pakistan, praising the efforts of Prime Minister Muhammad Shahbaz Sharif and Finance Minister Ishaq Dar. Abid Nisar, while also praising the significant role of Chief of Army Staff General Asim Munir in saving Pakistan from default, said that the Staff-Level Agreement with the IMF will prove crucial in getting from the worst economic crisis faced by Pakistan.

In a statement, Chairman PIBC said that the business community was very optimistic about this agreement and expects that the government while utilising the funds in the right direction, will focus on bringing the country out of economic crises and making it self-sufficient. Furthermore, government expenditures will also be gradually reduced, as this is now the only way to put the country on the path of progress.

He believed that with the agreement, there was significant growth in the stock market, while the business situation is also expected to improve in the coming times.

Abid Nisar stated that Pakistan’s progress is contingent upon the growth of business and industry and the people’s happiness. Therefore, the government must take necessary actions that promote business and industrial activities, allowing people to attain dignified employment opportunities.

“Pakistan’s progress is contingent upon the growth of business and industry, as well as the prosperity of the people. Therefore, the government must take necessary actions that promote business and industrial activities, allowing people to attain dignified employment opportunities.”

However, Abid also requested that the government reduce electricity and gas tariffs and the policy rate so businesses and industries can run smoothly and the private sector can overcome the liquidity crunch.