Karachi, April 17, 2023 (PPI-OT):Farazur Rehman, president of Korangi Association of Trade and Industry (KATI), has said that positive news regarding the IMF agreement is welcome for the economy. The IMF agreement is expected soon after friendly countries assured Pakistan of financial assistance. He expressed these views during the conversation at the iftar dinner given by the well-known businessman Isani.

Sindh Governor Kamran Khan Tessori was the chief guest in the ceremony, while other participants included United Business Group Secretary General (Sindh) Hanif Gohar, Farhan Hanif, Sheikh Imtiaz, Naseer Wajahat, former president Kati Danish Khan, Muslim Mohammadi, Fazal Karim Dadabhoy, Athar Iqbal and other diplomats. were also participants. President Kati Farazur Rahman said that Pakistan has implemented all the conditions of the IMF, now there is no justification for delaying the agreement.

Farazur Rahman said that due to uncertainty in the IMF agreement, the stock market and dollar prices fluctuated. due to which there was severe pressure in the market, however, after the agreement with the International Financial Institution, the ongoing economic crisis in the country will end and the economy will stabilize. He said that on this occasion, in the outlook report of the World Bank, another 3.9 million people have gone below the poverty level.

President Kati said that there is a storm of inflation in the country, it seems very difficult for the government to complete the financial targets this year. While the installments of huge amounts due to loans are also on the horizon this year, in such a situation the government has to formulate a strategy with full planning.

He said that if the government consults the stakeholders in this regard, all the business communities including Kati can not only give suggestions to deal with the economic crisis, but if the government cooperates, the crisis can be successfully ended.

Group photo of Governor Sindh Kamran Tessori, President Kati Farazur Rehman, Hanif Gohar, Farhan Hanif, Sheikh Imtiaz, Naseer Wajahat, Fazal Karim Dadabhai and others at the iftar dinner given by the well-known businessman Esani.

For more information, contact:

Korangi Association of Trade and Industry (KATI)

1st Floor, Aiwan-e-Sanat, Plot # St. 4/2,

Sector 23, Korangi Industrial Area,

Karachi - 74900, Pakistan

Tel: +92-21-35061211-3

Fax: +92-21-35061215, +92-21-35113800

Email: kati@kati.pk

Website: http://www.kati.pk/