Prime Minister Shehbaz Sharif expressed hope that the $3 billion bailout for Pakistan would be approved by the IMF board on July 12. He promised to fulfill all commitments made to the lender. The staff-level agreement has already been finalized, and Pakistan is set to receive a first installment of $1.1 billion pending the IMF board’s approval. Shehbaz Sharif thanked IMF Managing Director Kristalina Georgieva and her team, stating that this was Pakistan’s opportunity to move towards progress. He emphasized that the government would complete the new IMF program within the stipulated time and that Pakistan was no longer under the threat of default. Shehbaz Sharif also commended the completion of 10 years of the China-Pakistan Economic Corridor (CPEC), which played a crucial role in transforming Pakistan’s development landscape. Chinese investors have invested $26.4 billion through the CPEC program over the past decade. Separately, Planning Minister Ahsan Iqbal welcomed the new IMF package as temporary relief but emphasized the need for structural reforms to ensure long-term sustainability. He warned that the positive momentum gained from the IMF deal could be lost if business continued as usual and stressed the importance of implementing these reforms regardless of the government in power. Ahsan Iqbal is set to visit China to attend the 12th Joint Cooperation Committee (JCC) meeting to mark the 10-year celebrations of CPEC.
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