Federal Minister for Planning, Development, and Special Initiatives Ahsan Iqbal declared that the government is under no pressure from the International Monetary Fund (IMF) concerning the forthcoming budget.
He affirmed that, in light of the current precarious security environment in the region, the defense budget is set to increase significantly. Concurrently, the government remains steadfast in its commitment to offering financial relief to the populace amid mounting economic hurdles.
At a meeting with a delegation headed by Amir Zamir, Secretary General of the Institution of Engineers Pakistan, Ahsan Iqbal articulated that the IMF is content with the economic strategies undertaken by the government, imposing no additional requisites on the budget. He also vowed that the government will steer clear of any actions detrimental to national unity or social harmony, underscoring the necessity of unity in trying times.
Ahsan Iqbal illuminated that with the ongoing security apprehensions, particularly following recent border skirmishes, the government has made it a priority to boost defense expenditure. He highlighted the pressing need to complete essential water infrastructure undertakings, like the Diamer Bhasha Dam, to fortify Pakistan’s water security and counter external threats. The government is dedicated to allocating funds on a priority basis for all pivotal development initiatives.
This pronouncement comes in the wake of India’s recent cross-border aggression on May 6 and 7, during which the Neelum-Jhelum Hydropower Project suffered damage. Ahsan Iqbal reemphasized Pakistan’s determination to fortify its defense and infrastructure projects, ensuring national security and economic stability in the face of regional challenges.
Overall, the minister assured that the government is balancing increased defense needs with efforts to ease the financial burden on citizens, aiming for sustainable growth and stability in these testing times.