LAHORE (Web Desk) – Finance Minister Muhammad Aurangzeb expressed optimism on Tuesday about the upcoming review by the International Monetary Fund (IMF) regarding Pakistan's $7 billion Extended Fund Facility (EFF), scheduled for tomorrow (Sept 25).
The IMF announced that its board will convene on Sept 25 to discuss the EFF for Pakistan.
The finance minister was addressing a seminar on "CPEC Phase-two and the region" in Lahore via video link.
The finance minister said the confidence of investors in the country had increased.
He said phase one of the China-Pakistan Economic Corridor (CPEC) focused on infrastructure development while phase two will now focus on the monetization of phase one and is set to commence.
Aurangzeb said that the private sector had the potential to drive the country's economic growth.
The foreign investment in the country is increasing, he added.
He reaffirmed the government's commitment to providing favourable conditions for investors from China and Saudi Arabia and expressed optimism about the success of the IMF programme.