Shamshad Akhtar Announces Anticipated Gas Price Hike in January 2024
In a media address following the staff-level agreement (SLA) reached with the IMF, Dr. Akhtar, accompanied by Secretary Finance Imdad Ullah Bosal, Additional Secretary Qamar Abbasi, the additional secretary external finance, and the economic adviser Ministry of Finance, assured that external financing remains secure. The government expects an inflow in December 2023, contributing to the increase in foreign exchange reserves.
Karobar
ISLAMABAD: Dr. Shamshad Akhtar, the Caretaker Finance Minister, emphasized the significance of maintaining Pakistan's position in the International Monetary Fund (IMF) program for economic stability. She disclosed that another increase in gas prices is anticipated in January 2024.
Secretary Finance Bosal added that discussions for commercial borrowing are in an advanced stage to secure budgeted commercial inflows.
Dr. Akhtar revealed the government's efforts to secure US$2 billion from the World Bank in the ongoing fiscal year. Additionally, approximately US$1 billion is in the pipeline for various accounts, further bolstering foreign exchange reserves. She clarified that no decision has been made regarding imposing taxes on real estate and retailers.
Addressing the bond maturing in April 2024, Dr. Akhtar assured timely repayment and mentioned a delay in the bond issuance due to the current unsuitable environment. Furthermore, she highlighted the government's approval of a policy to privatize loss-making state-owned enterprises (SOEs) by the end of November.
