Difficult decisions will have to be made to fix the direction of the economy, says Finance Minister

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The Afghan war has severely affected the Pakistani economy, Shaukat Tareen said.  Photo: File
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The Afghan war has severely affected the Pakistani economy, Shaukat Tareen said. Photo: File

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Washington: The finance minister will have to make difficult decisions to get the economy right.

Federal Finance Minister Shaukat Tareen has arrived in Washington DC on a visit to the United States. During the visit, he will attend the annual meetings of the IMF and the World Bank, as well as important sideline meetings.

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According to sources, during his visit, policy-level discussions will also be held with the IMF on the economic review of bringing the next tranche of ارب 1 billion on track for the next tranche. The IMF will receive a ارب 1 billion installment, as well as funding from the World Bank and the Asian Development Bank. A statement issued by the Ministry of Finance said that the Finance Minister will attend the round table meeting at the invitation of the Pakistan-US Business Council.

On the other hand, Finance Minister Shaukat Tareen while talking to US Agency for Peace said that Pakistan-US relations are very old, Pakistani war has severely affected Pakistani economy while Afghan government is facing severe financial crisis. 60% of Pakistan’s population consists of young people who need jobs, Pakistan’s future is bright.

He said that Pakistan is working on a reform agenda, protection of backward classes will be ensured, Pakistan’s economy will grow at a rate of 5%, we are providing affordable housing and health cards to the people but we will have to make difficult decisions to adjust the direction of the economy.

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