Defense Minister Khawaja Asif has said that Pakistan could eliminate its dependence on the International Monetary Fund (IMF) if the country successfully reduces corruption by 50%.
Addressing industrialists in Sialkot, Asif said that reducing corruption would enable Pakistan to chart its own path of development and economic independence.
He added that such a change would remove the need for IMF support and lead the country to long-term progress.
The defense minister pointed out that Pakistan has faced considerable pressure from the IMF in the past year and the country has struggled to meet the demands set by the global lender.
He noted that the ongoing pressure has created an unstable economic environment, yet he remains optimistic that internal reforms and a reduction in corruption could help stabilize the nation’s finances.
Asif emphasized the importance of policy reforms and cited the recent 9% cut in the key interest rate as a positive step towards economic improvement.
In addition, the minister spoke about the impact of regional issues on Pakistan’s economy and acknowledged that external factors also played a vital role in the national challenges.
He referred to the development of the Sialkot airport and highlighted the success of the private-public partnership, a model that has proved successful in the city.
He explained that the model is an example of how collaboration between the private sector and government can result in tangible progress and infrastructure development, setting a benchmark for other parts of the country.