Ishaq Dar apprises US delegation on govt’s economic priorities to soften IMF terms

Finance Minister Ishaq Dar met with a delegation led by Deputy Assistant Secretary of the US Treasury Department for Asia, Robert Kaproth, in Islamabad to discuss economic conditions in Pakistan.

Senior officials of both countries attended the meeting.

The finance minister acknowledged the challenging economic conditions inherited by the current government but emphasized that they are introducing reforms in all sectors to achieve economic growth and development.

He said due to pragmatic measures taken by the government, the country is destined for progress and development.

Dar also informed the delegation about the damages caused by floods in Pakistan and their impact on the economy. He said the government is handling all challenges with complete commitment.

As the US team wanted to understand Pakistan’s challenges, including the erosion of its currency, the minister explained that besides domestic issues, the rupee was also under pressure because of the smuggling of foreign currencies, particularly the US dollar, to Afghanistan and Iran where the greenback was in short.

“Despite challenging economic conditions, the government is focusing on fixing things in the right direction,” it added.

During the meeting, Dar asked them to use their diplomatic influence for convincing the International Monetary Fund (IMF) to soften loan conditions as the country is passing through a critical phase both economically and politically.

Mr Kaproth underscored the need for good relations between the two countries and expressed confidence in the policies and programs of the government for economic and financial stability, according to the finance ministry.