Islamabad: Prime Minister Shehbaz Sharif said that approval of Stand-by Agreement of $ 3 billion by IMF’s Executive Board was major step forward in government’s efforts to stabilise economy and achieve macroeconomic stability. It bolsters Pakistan’s economic position to overcome immediate to medium-term economic challenges, giving next government fiscal space to chart way forward.

The approval of Stand-by Agreement of $3 billion by the IMF's Executive Board a little while ago is a major step forward in the government's efforts to stabilise the economy and achieve macroeconomic stability. It bolsters Pakistan's economic position to overcome immediate- to…

— Shehbaz Sharif (@CMShehbaz) July 12, 2023

This milestone which was achieved against heaviest of odds and against seemingly impossible deadline could not have been possible without excellent team effort. I would commend Finance Minister Ishaq Dar and his team at Ministry of Finance for their hard work. “My special thanks are also due to Kristalina Georgieva IMF MD and her team for their support and cooperation,” he added.

Meanwhile, Shehbaz Sharif congratulated Uzbek President Shavkat Mirziyoyev on his re-election in presidential elections. During telephonic conversation, he termed re-election of President Mirziyoyev as reiteration of confidence of Uzbek people in his leadership. Underscoring importance attached by Pakistan to bilateral relations with Uzbekistan, he noted with satisfaction operationalization of Preferential Trade Agreement and Uzbekistan-Pakistan Transit Trade Agreement. There is need to further expand bilateral cooperation in fields of energy, connectivity, agriculture, IT, textiles and logistics.

Moreover, Shehbaz Sharif rejected Israel criticism of alleged human rights violations in Pakistan, questioning why Tel Aviv was feeling pain over cases filed after May 9 riots wherein military installations including General Headquarter came under attack. There is no comparison of Israel brutalities and human rights violations against Palestinians.

Published in The Daily National Courier, July, 13 2023

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