Pakistan's finance minister Muhammad Aurangzeb said an International Monetary Fund (IMF) delegation will visit the country next week.<o:p></o:p>
The first assessment of the 7-billion-dollar rescue package is scheduled for march. Last summer, as part of its economic recovery strategy, Islamabad received a 7-billion-dollar loan from the IMF.<o:p></o:p>
According to Pakistan&rsquo;s finance minister, the country's economy has stabilised and should now prioritise export-led growth. A separate delegation from the IMF is also visiting Pakistan to discuss climate funding of about 1 billion dollars.<o:p></o:p>
The funding will be provided through the resilience and sustainability trust. That trust is an initiative of the IMF established in 2022 to offer concessional loans for climate-related projects. This includes adaptation and the switch to renewable energy.<o:p></o:p>
<h2 class="MsoNormal">Pakistan still faces economic challenges<o:p></o:p></h2>
Pakistan's economy is recovering, with growth in 2024 and improved investor confidence. The foreign exchange reserves have improved and can cover imports for more than two months. FDI, or foreign direct investment, increased by 20 percent so far this year.<o:p></o:p>
However, the country still faces challenges like inflation and poverty. The poverty rate is projected to stay around 40 per cent until 2026. With domestic energy prices on the rise, inflation is likely to stay high. Political uncertainty and strict macroeconomic policy would cause economic growth to stay below potential.<o:p></o:p>
(With inputs from the agencies)<o:p></o:p>

Business & Economy: Pakistan's finance minister Muhammad Aurangzeb said an International Monetary Fund (IMF) delegation will visit the country next week.

Pakistan's finance minister Muhammad Aurangzeb said an International Monetary Fund (IMF) delegation will visit the country next week. The first assessment of the 7-billion-dollar rescue package is scheduled for march. Last summer, as part of its economic recovery strategy, Islamabad received a 7-billion-dollar loan from the IMF. According to Pakistan’s finance minister, the country's economy has stabilised and should now prioritise export-led growth. A separate delegation from the IMF is also visiting Pakistan to discuss climate funding of about 1 billion dollars. The funding will be provided through the resilience and sustainability trust. That trust is an initiative of the IMF established in 2022 to offer concessional loans for climate-related projects. This includes adaptation and the switch to renewable energy. Pakistan still faces economic challenges Pakistan's economy is recovering, with growth in 2024 and improved investor confidence. The foreign exchange reserves have improved and can cover imports for more than two months. FDI, or foreign direct investment, increased by 20 percent so far this year. However, the country still faces challenges like inflation and poverty. The poverty rate is projected to stay around 40 per cent until 2026. With domestic energy prices on the rise, inflation is likely to stay high. Political uncertainty and strict macroeconomic policy would cause economic growth to stay below potential. (With inputs from the agencies)

Pakistan's $7 billion IMF bailout review due

India's Foreign Minister S Jaishankar on Thursday (February 23) yet again spoke of Pakistan's tacit support to terror groups at a time when the country faces multiple economic challenges and almost dismissed the idea of helping the western neighbour to come out of its economic mess. No country can come out of a difficult situation, Jaishankar insisted, "if it's basic industry is terrorism".&nbsp; 
 
"Terrorism is a fundamental issue in relationship with Pakistan... we must not be in denial of it," the Foreign Minister said at an event. The minister, who is known for making sharp comments about China and Pakistan on international platforms while&nbsp;reflecting the government's stand, dropped clear hints at not extending any help to Pakistan for helping it tide over the crises by saying that he will consider the local public sentiment while making any such big decision.

"...If I were to look at any big decision I am making, I will also look at what is the public sentiment. I would have a pulse what do my people feel about it. And I think you know the answer," Jaishankar was quoted as saying by news agency PTI. 
 
Underlining that India is a very "forbearing and patient country", he stressed that the nation "will do whatever it takes to protect its borders".

Also Watch: German Chancellor Olaf Scholz quotes India's S Jaishankar at Munich conference

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<h2>India and other nations on Pak economic crises</h2>

Pakistan is facing one of its worst economic crises. Earlier last year, cricketer-turned-politician Imran Khan was ousted out of power amid accusations over poor handling of the economic crises. Despite his removal, the situation has hardly improved amid a political blame-game. Even as the International Monetary Fund (IMF) has delayed its next tranche of $6.5 billion loan, China and Pakistan now come to the rescue of the country. Beijing has reportedly lent a $700 million loan to shore up the country's foreign reserves, which have hit a new low.

Also read: <a href="https://www.wionews.com/india-news/india-has-proven-itself-as-an-exceptional-international-power-eam-jaishankar-564536">India has proven itself as an 'exceptional international power': EAM Jaishankar</a>

New Delhi, meanwhile, has been seeking measures by Islamabad for tackling terror. Earlier this week, in an interview with news agency ANI, Jaishankar underlined: "Pakistan’s future is largely determined by its own actions and choices. Nobody reaches a difficult situation suddenly without cause. It is for them to find out. Today, our relationship is not one where we can be relevant directly to that process." &nbsp;

(With inputs from agencies)

&nbsp;

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India's Foreign Minister S Jaishankar on Thursday (February 23) yet again spoke of Pakistan's tacit support to terror groups at a time when the country faces multiple economic challenges and almost dismissed the idea of helping the western neighbour to come out of its economic mess.

India's Foreign Minister S Jaishankar on Thursday (February 23) yet again spoke of Pakistan's tacit support to terror groups at a time when the country faces multiple economic challenges and almost dismissed the idea of helping the western neighbour to come out of its economic mess. No country can come out of a difficult situation, Jaishankar insisted, "if it's basic industry is terrorism". "Terrorism is a fundamental issue in relationship with Pakistan... we must not be in denial of it," the Foreign Minister said at an event. The minister, who is known for making sharp comments about China and Pakistan on international platforms while reflecting the government's stand, dropped clear hints at not extending any help to Pakistan for helping it tide over the crises by saying that he will consider the local public sentiment while making any such big decision. "...If I were to look at any big decision I am making, I will also look at what is the public sentiment. I would have a pulse what do my people feel about it. And I think you know the answer," Jaishankar was quoted as saying by news agency PTI. Underlining that India is a very "forbearing and patient country", he stressed that the nation "will do whatever it takes to protect its borders". Also Watch: German Chancellor Olaf Scholz quotes India's S Jaishankar at Munich conference × India and other nations on Pak economic crises Pakistan is facing one of its worst economic crises. Earlier last year, cricketer-turned-politician Imran Khan was ousted out of power amid accusations over poor handling of the economic crises. Despite his removal, the situation has hardly improved amid a political blame-game. Even as the International Monetary Fund (IMF) has delayed its next tranche of $6.5 billion loan, China and Pakistan now come to the rescue of the country. Beijing has reportedly lent a $700 million loan to shore up the country's foreign reserves, which have hit a new low. Also read: India has proven itself as an 'exceptional international power': EAM Jaishankar New Delhi, meanwhile, has been seeking measures by Islamabad for tackling terror. Earlier this week, in an interview with news agency ANI, Jaishankar underlined: "Pakistan’s future is largely determined by its own actions and choices. Nobody reaches a difficult situation suddenly without cause. It is for them to find out. Today, our relationship is not one where we can be relevant directly to that process." (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

On Pak’s economic crises, Jaishankar calls out neighbour’s ‘basic terrorism industry’ for its ills

Pakistan's government, struggling to lift revenues and cut ballooning public debt, <a href="https://www.wionews.com/south-asia/imf-approves-6-billion-loan-for-pakistan-to-right-the-nations-economy-232863">registered around 100,000 new tax filers</a> and expects to have raised about $450 million from a tax amnesty on hidden assets, the finance chief said on Thursday.

The announcement came a day after the<a href="https://www.wionews.com/south-asia/us-pushes-for-conditionality-in-imf-bailout-package-to-pakistan-228542"> International Monetary Fund(IMF)</a> gave final approval to a $6 billion loan package designed to shore up the economy while the government cuts debt and builds up dwindling foreign currency reserves.

Finance chief Abdul Hafeez Shaikh said nearly 137,000 people had registered at the closure of the amnesty this week, of whom nearly 100,000 were first-time filers.

That was a significant total in a nation where less than 1 per cent of the 208 million population file tax returns.

In total, around $19.25 billion assets were declared and tax revenue worth around $449.15 million was collected.

Prime Minister Imran Khan introduced the amnesty on undeclared assets, part of a broader drive to widen Pakistan's notoriously narrow tax base, in a bid to identify high earners for more efficient tax collection.

The move represented a turnaround for Khan who had accused previous governments of using amnesties to legitimise illegally acquired wealth hidden inside Pakistan and abroad.

Under the IMF agreement, approved on Wednesday, Pakistan has undertaken to drastically increase revenue mobilization by 4-5 per cent of GDP at federal and provincial level over three years.

There have already been protests by opposition parties at the squeeze on household revenues.

Hafeez Shaikh said the IMF agreement would open up more funds from other lending agencies and help the broader economy.

"Pakistan's economy will stabilise, and we will take on the path of progress," he said.

The government has set a target of raising $35.6 billion in tax this year, an ambitious goal given that it missed a previous target of $28.2 billion by over $3.2 billion.

Pakistan's government, struggling to lift revenues and cut ballooning public debt, registered around 100,000 new tax filers and expects to have raised about $450 million from a tax amnesty on hidden assets, the finance chief said on Thursday.

Pakistan's government, struggling to lift revenues and cut ballooning public debt, registered around 100,000 new tax filers and expects to have raised about $450 million from a tax amnesty on hidden assets, the finance chief said on Thursday. The announcement came a day after the International Monetary Fund(IMF) gave final approval to a $6 billion loan package designed to shore up the economy while the government cuts debt and builds up dwindling foreign currency reserves. Finance chief Abdul Hafeez Shaikh said nearly 137,000 people had registered at the closure of the amnesty this week, of whom nearly 100,000 were first-time filers. That was a significant total in a nation where less than 1 per cent of the 208 million population file tax returns. In total, around $19.25 billion assets were declared and tax revenue worth around $449.15 million was collected. Prime Minister Imran Khan introduced the amnesty on undeclared assets, part of a broader drive to widen Pakistan's notoriously narrow tax base, in a bid to identify high earners for more efficient tax collection. The move represented a turnaround for Khan who had accused previous governments of using amnesties to legitimise illegally acquired wealth hidden inside Pakistan and abroad. Under the IMF agreement, approved on Wednesday, Pakistan has undertaken to drastically increase revenue mobilization by 4-5 per cent of GDP at federal and provincial level over three years. There have already been protests by opposition parties at the squeeze on household revenues. Hafeez Shaikh said the IMF agreement would open up more funds from other lending agencies and help the broader economy. "Pakistan's economy will stabilise, and we will take on the path of progress," he said. The government has set a target of raising $35.6 billion in tax this year, an ambitious goal given that it missed a previous target of $28.2 billion by over $3.2 billion.

Pakistan registers 100,000 new tax filers amid financial crisis

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Pakistan's $7 billion IMF bailout review due

On Pak’s economic crises, Jaishankar calls out neighbour’s ‘basic terrorism industry’ for its ills

Pakistan registers 100,000 new tax filers amid financial crisis