ISLAMABAD: The International Monetary Fund (IMF) has expressed concern that the economic growth rate of Pakistan will not achieve the set target for the current financial year.

The IMF has released the World Economic Outlook in which the International Monetary Fund has revised Pakistan’s economic growth estimate for the current fiscal year to 3 percent from 3.2 percent.

The IMF has estimated that Pakistan’s economic growth rate will not be achieved this fiscal year, but it has also predicted an increase in the economic growth rate compared to the previous year.

The IMF has predicted that the economic growth rate will be 4 percent in the next fiscal year, while the economic growth rate was 2.5 percent last fiscal year.

According to the IMF, the economic growth rate of Pakistan is likely to be 3 percent this fiscal year, while Pakistan has set a target of 3.6 percent economic growth for the current fiscal year.

In October 2024, the IMF estimated Pakistan’s economic growth rate for the current fiscal year at 3.2 percent.

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Earleir, International Monetary Fund (IMF) has approved the removal of the 18% GST on aircraft for Pakistan International Airlines Company Limited (PIACL), a move aimed at improving its financial health. This decision is expected to clean up Rs45 billion of PIACL’s negative equity.

The development was discussed during the fifth meeting of the National Assembly Standing Committee on Privatisation, chaired by Dr. Farooq Sattar, a senior leader of the Muttahida Qaumi Movement-Pakistan (MQM-P).