ISLAMABAD – Finance Minister Muhammad Aurangzeb has announced that an International Monetary Fund (IMF) delegation will arrive in Pakistan at the end of September for the next programme review, with Islamabad expecting to receive $1 billion once the process concludes.
Addressing business leaders at the Rawalpindi Chamber of Commerce and Industry’s Independence Day celebrations on Wednesday, Aurangzeb said all preparations for the review were in place. He added that while the IMF projects GDP growth at 3.6% for FY26, the government is targeting 4.2%.
The minister expressed confidence in further lowering the policy rate this year, citing the ongoing drop in inflation. “Given the current economic indicators, I believe we have room for more policy rate cuts,” he said, while noting the State Bank’s independent role in monetary decisions.
Aurangzeb emphasised that economic stability is tied to national security. Over the past 18 months, he said, the government has boosted agricultural loans to over Rs2.5 trillion, stabilised the rupee, and taken steps to reduce the policy rate. Agreements have been finalised with the IMF and US, with talks underway for key deals with China. Panda bonds are expected by year-end, alongside new Sukuk benchmarks.
On the domestic front, he said business activity is rising, with 250,000 new company registrations and a 38% jump in private sector lending. He pledged that taxation reforms will avoid additional burdens on salaried individuals, while loopholes will be closed to broaden the tax base.
Aurangzeb also highlighted tariff reforms, privatisation of state enterprises, right-sizing of 45 ministries, and cost-cutting measures in the energy sector. He noted that global credit agencies have improved Pakistan’s ratings this year, reflecting growing investor confidence.
The RCCI’s 78th Independence Day event featured flag hoisting, cake cutting, and patriotic celebrations. RCCI President Usman Shaukat praised the nation’s resilience and urged the government to cut interest rates, energy tariffs, and taxes to boost economic growth and job creation.