The Federation of Pakistan Chambers of Commerce & Industry (FPCCI) has welcomed the recently reached Staff-Level Agreement (SLA) between the Government of Pakistan and the International Monetary Fund (IMF) for the disbursement of $1.2 billion under the Extended Fund Facility (EFF) and Resilience and Sustainability Facility (RSF).
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FPCCI President Atif Ikram Sheikh said the agreement, following the successful conclusion of the third review of the EFF and second review of the RSF, is a key step toward sustaining macroeconomic stability. The release of $1 billion under EFF and $210 million under RSF is expected to strengthen foreign exchange reserves, rebuild market confidence, and signal positively to international rating agencies and bilateral partners.
However, Sheikh emphasized that stabilization alone is not enough. He urged the government to focus on fostering inclusive industrial growth by addressing structural bottlenecks that impede the private sector. Immediate measures, such as a meaningful reduction in the policy rate, could help boost investor and business confidence.
The FPCCI president also stressed the need to broaden the tax base and avoid placing further burdens on compliant taxpayers, while addressing policy gaps such as delayed sales tax refunds that drain industry liquidity. Institutional reforms to curb corruption, improve the rule of law, and ensure transparency in public financial management were also highlighted.
FPCCI Senior Vice President Saquib Fayyaz Magoon warned that external threats, including escalating Middle East tensions and rising global freight costs, are posing risks to Pakistan’s trade outlook. He called for domestic policies to act as a shock absorber rather than an additional burden on exporters.
The FPCCI reaffirmed its commitment to working with the government to draft evidence-based policies promoting sustainable industrial growth, export expansion, and a resilient business climate.
