ISLAMABAD: Pakistan’s interim Finance Minister Dr Shamshad Akhtar on Thursday said the interim government took proactive measures to stabilize the country’s economy and build market confidence, local media reported.
According to APP, the Minister told to the Senate Committee on Finance that the caretaker government’s efforts and measures are anchored around the IMF stabilization package. She said that IMF disbursed $ 1.2 billion in July 2023. She added that the government has normalized trade and investment flows. The Minister said that the government has removed the import ban that impacted the availability of raw materials for the industry. She added that they have relaxed import restrictions, leading to the opening of L/Cs for imports and the backlog of import payments (Jan-Jul) has also been cleared.
She added that the caretaker government has also taken suitable actions to stabilize the instability and speculation in the exchange rate market. “Actions taken by the State Bank of Pakistan on exchange firms and crackdown against unlawful transactions have helped to decrease the spreads between interbank and open market,” the Minister said.
