CBER organizes a seminar on the ‘IMF Program and Pakistan’s Economy: Insights, Challenges and Way Forward’

April 29, 2024: The Center for Business and Economic Research (CBER), Institute of Business Administration (IBA), Karachi hosted a seminar on ‘IMF Program and Pakistan’s Economy: Insights, Challenges and way forward’. The event was graced by Former Federal Minister, Dr. Aisha Ghaus Pasha; Engr. Memon Abdul Jabbar; and Dr. Asad Sayed. The session was moderated by Dr. Faiz ur Rehman, Associate Professor, Department of Economics, SESS. Dr. Ghaus discussed the problems of approaching the IMF and stated that the conditionalities of IMF packages always impact the general masses harshly. She also talked about austerity measures, ongoing taxation reforms, and debt burdens. She added that taking on additional debt from the IMF can exacerbate Pakistan's already significant debt burden, leading to concerns about debt sustainability and the country's ability to repay its loans in the future. Engr. Jabbar further highlighted the mistakes of the past that have been carried forward without realizing that sustainability can only be brought to Pakistan’s economy through massive reforms. Discussing the importance of structural reforms, Dr. Sayed emphasized that these reforms are a much-needed step whether with IMF or without IMF. He stated that the country is facing several major concerns such as food insecurity, 23 million out of school children and a stagnated GDP growth rate. The seminar concluded with an interactive Q&A session. Director CBER, Dr. Lubna Naz, closed the seminar with a vote of thanks.