Pakistan will sign a new IMF deal in the current year

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Former President of the Islamabad Chamber of Commerce and Industry (ICCI), Dr. Shahid Rasheed Butt, said on Wednesday that the International Monetary Fund (IMF) is pleased with the performance of the Finance Minister. The business community is hopeful that Finance Minister Muhammad Aurangzeb will be able to sign a new agreement with the lender during the current year, which is necessary to save the country, he said. Terrorism and investment are not compatible, and sugar exports should be prohibited as they will lead to an increase in inflation, he added.

Shahid Rasheed Butt said in a statement issued here today that a new agreement with the IMF is important for Pakistan because irresponsible spending without IMF oversight will again empty the coffers.

He said that the Finance Minister is working hard to get the country out of the crisis, and since he has no political ambitions, he is not forced to make decisions against merit. He added that the FM’s decisions have given the public and business community hope to improve the situation.

He said that the country is currently going through a critical period, but some politicians are busy pulling the legs of the finance minister, who needs to be stopped.

Some politicians are trying to keep the finance minister out of important forums. In contrast, he observed that the reins of some important issues are being handed over to failed politicians, which is equivalent to playing with the country’s interests.

He said that such negative actions can affect the confidence of investors and international organizations, so it would be better if party politics were given priority over national interests on this critical occasion.

Shahid Rashid Butt said that terrorism and investment cannot go together in Pakistan. The country can never develop in the presence of the enemies of Pakistan-China friendship, so it has become necessary to crush them with full force.

He said that the sugar mills want to export a huge quantity of sugar, which should be discouraged as it will make sweeteners expensive in the country. This will allow them to earn billions of rupees overnight by robbing the public.

India has banned the export of sugar, onions, rice, and other commodities to keep prices under control in the local market; therefore, he demanded that Pakistan impose such a ban.

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