Historical context: This article reports remarks made by Prime Minister Shehbaz Sharif in June 2022 and should not be read as a current update on Pakistan’s economy or its relationship with the International Monetary Fund.

Shehbaz Sharif discussed IMF negotiations

Prime Minister Shehbaz Sharif said Pakistan was facing serious economic difficulties and that his government was working to meet conditions connected with negotiations with the International Monetary Fund (IMF).

Speaking to PML-N senators, Sharif said the coalition government intended to complete its term. He discussed rising energy costs, economic pressures and the difficult decisions facing the government.

Sharif said IMF conditions were close to being settled, while acknowledging that further requirements could still affect an agreement. His comments reflected the status of negotiations at that time rather than a completed agreement.

Economic challenges

The prime minister also referred to Pakistan’s reliance on financial support from friendly countries, including China, Saudi Arabia and the United Arab Emirates. He argued that Pakistan needed longer-term economic improvement rather than continuing to depend heavily on external assistance.

He criticised decisions made by the previous government concerning fuel prices and referred to commitments previously made to the IMF, including taxation and petroleum-levy measures. These were political statements made by the prime minister and are presented here as attributed remarks rather than independent findings.

The economic and IMF situation subsequently continued to develop, so figures and negotiations described in this June 2022 report should be understood in their historical context.