Islamabad, February 20, 2025: Finance Minister Muhammad Aurangzeb has stated that Pakistan is expected to receive between $1 billion and $1.5 billion from the International Monetary Fund (IMF) under climate finance.
Speaking to journalists on Thursday, Aurangzeb confirmed that an IMF mission is scheduled to visit Pakistan on February 24 for discussions regarding the climate fund. Additionally, a second IMF review mission is set to arrive in March.
He emphasized that Pakistan is effectively meeting all IMF conditions, noting that while the country experienced a current account deficit in one month, it maintained a surplus for the remaining seven months.
Addressing an event organized by the Pakistan Retail Business Council in Islamabad, the finance minister asserted that the country is moving in the right economic direction, having achieved macroeconomic stability. However, he stressed the need for structural reforms to ensure sustainable and inclusive growth and to break the cycle of economic booms and busts.
Aurangzeb highlighted ongoing reforms in key sectors such as energy, taxation, and public finance. He underscored the importance of leveraging technology to enhance transparency and close loopholes in the tax system.
“The public’s trust in tax authorities must be restored,” he said, acknowledging that the burden on salaried individuals is unsustainable. He called for fair taxation across all sectors, including retail, wholesale, real estate, and agriculture.
Aurangzeb also spoke about the government’s efforts to cut unnecessary expenditures, noting that provincial administrations are working on implementing agricultural taxes. He added that a reduction in the policy rate would benefit investors and the business community.
“The country cannot afford unnecessary privileges,” he concluded, reinforcing the need for fiscal discipline and economic reforms.
