Advisor to the Prime Minister on Finance, Shaukat Tarin, informed that the matters with IMF have been settled and a formal agreement would be reached within a couple of days to revive the 6 billion USD Extended Fund Facility (EFF).
He was talking to the media after the launch event of the Pakistan Single Window (PSW) on Monday.
Shaukat Tarin said that an accord would be signed this week as the differences have been settled. The Adviser on Finance further said, “We have tried to explain our position to the IMF, that we do not have a two-third majority in the parliament to bring any constitutional amendment.”
He was referring to the laws pertaining to the State Bank of Pakistan (SBP). The Advisor on Finance, commenting on the latest cyberattack on the National Bank of Pakistan (NBP), said that more cyberattacks may occur on our financial system after attacks on FBR and the National Bank of Pakistan. “The enemy is sitting on our borders and such attacks may occur, but we have deployed safety measures to avert any such in future,” said Shaukat Tarin.
He said that the issues of finances have been managed and there is no chance of delay in salaries of the government employees, as the situation is under control now. Responding to a question on inflation, Shaukat Tarin said that the government is giving targeted subsidies to control inflation. He said that higher commodity prices are a global phenomenon, and he cannot control global commodity prices.
Earlier, while addressing the launching ceremony of the Pakistan Single Window facility, Shaukat Tarin said that it is an important step towards reforming our trade and it will not only boost trade but also streamline all inbound and outbound trade at a single platform. “The government has come up with the slogan of change, reform, and accountability as we have taken important steps for institutional reforms,” said the advisor.
Congratulating Pakistan Customs on the launch of Single Window, Shaukat Tarin said that in the last two years, the supply chain had been affected due to the COVID-19 pandemic, but Pakistan’s economy is now in a recovery phase. He further said that the businessmen and industries will get facilitated with the PSW project, and it will help increase Pakistan’s export. Shaukat Tarin opined that the regional trade and geo-economic ties would improve and provide a comparative advantage to our business community to enter new markets and enhance exports. He said the government is actively pursuing the agenda of making Pakistan a hub of regional trade and transit.
In this regard, he said a major milestone had been achieved by operationalizing the TIR agreement and dispatch of transit consignments to Uzbekistan and Turkey.
The Advisor on Finance said the PSW would boost our capacity to promote regional trade and help counter financial crimes, including money laundering.
David Young, Deputy Mission Director USAID, and Syed Aftab Haider, Chief Executive Office PSW, also addressed the event.
The Pakistan Single Window enables parties involved in trade and transport to register standard information and documents with a single-entry point and thereby, fulfill all import, export, and transit-related regulatory requirements. Previously, traders were required to secure approval from a variety of government offices, duplicating efforts and paperwork, which led to increased costs and delays. Today’s announcement rolled out the Subscription and Customs Registration system, along with the Commercial Bank integration module, which are the first steps in helping to reduce these costs and delays, and which will benefit consumers and businesses alike.
Source: Pro Pakistani