The Minister for Finance and Revenue has said that the country was on a sound economic footing that was evidenced by the latest data of key economic indicators.
Taking to his official Twitter handle, Shaukat Tarin referred to the robust industrial growth in February and a decrease in inflation in the previous week.
“Industrial output and Sensitive Price Index (SPI) – two important data points have been released today. Both highlight the sound economic footings of the economy.”
He said as per the Pakistan Bureau of Statistics (PBS), the country’s Large Scale Manufacturing (LSM) surged by 8.2% in February and 7.6% during July-Jan FY22.
He said the SPI was down 1.37% week-on-week from 21% to 15% in December 2021.
On Thursday, Tarin had dismissed reports that talks between the International Monetary Fund (IMF) and Pakistan for the seventh review of the Extended Fund Facility program worth $6 billion had failed.
In discussion with journalists, the minister denied that talks between Pakistan and the International Monetary Fund (IMF) for the resumption of the $6 billion Extended Fund Facility (EFF) have failed.
“The talks have successfully ended. We are waiting for the IMF’S decision,” he said while replying to a journalist.
“The IMF will come back with its final assessment soon,” Tarin said, adding that some elements were spreading speculations against the country.
The IMF and Pakistan started negotiations on the ongoing review of the $6 billion Extended Fund Facility program in March.
It is pertinent to state that Pakistan received a $1.053 billion tranche from the IMF last month, following the completion of the 6th review under the EFF.