PTI Welcomes IMF Stand-By Arrangement: Hammad Azhar

PTI Welcomes IMF Stand-By Arrangement: Hammad Azhar
Former federal minister and leader of the Pakistan Tehreek-e-Insaf (PTI) Hammad Azhar tweeted that his party "welcomes" the recent staff-level agreement with the IMF on a Stand-By Arrangement (SBA) of $3bn over a period of nine months.

An IMF team met with former prime minister and PTI chairman Imran Khan at his Lahore residence today (Friday July 7), according to Hammad's tweet. IMF country chief Nathan Porter joined in virtually from Washington, while IMF resident representative Esther Perez was present at Zaman Park. The meeting lasted for more than an hour, according to the tweet.

An image of the meeting was shown on mainstream electronic news media in Pakistan, with the former premier blurred out.

The PTI's team included Imran Khan, vice chairman Shah Mehmood Qureshi, Hammad Azhar, former finance minister Shaukat Tarin, party secretary general Omer Ayub Khan, Dr Sania Nishtar, senator Shibli Faraz, Taimur Jhagra and Muzammil Aslam.

Hammad wrote that his party supports "the overall objectives and key policies" of the staff level agreement between IMF and the current government of Pakistan for a 9-month $3 billion Stand-By Arrangement (SBA).

"We welcome the SBA to preserve macroeconomic stability by anchoring external financing and sound policies ahead of the national elections due in the Fall of this year and until a new government is formed," Hammad tweeted, adding that "we wish to stress the importance of programs to protect the lower-income segments of the population from high inflation".

Hammad concluded by saying that Imran Khan would shortly address the public on the matter of him supporting the recent IMF agreement.