Govt to meet IMF conditions without overburdening common man: Ahsan Iqbal.

ISLAMABAD -- Minister for Planning, Development and Special Initiatives Ahsan Iqbal Thursday said that the government would meet the conditions set by the International Monetary Fund (IMF) to complete the programme, but common man would not be affected by the decisions.

He said the IMF agreement was hanging over the government which it had to negotiate with the Fund. The previous government, he said had recklessly agreed upon the programme, therefore the current government has no option but to continue the programme.

"We have to do lot of adjustments, but we will take decisions in the larger interests of the state," he said and hastened to add that "we will try to put minimum burden on the poor and common people".

He was addressing at an event here at the Pakistan Institute of Development Economics (PIDE).

The minister said Pakistan's economy was in shattered condition when the current government took over and keeping in view the short available time, it decided to take short term measures to turnaround the economy.

Ahsan Iqbal stressed the need for mobilizing all available resources to increase productivity and exports of the country so as to get rid of foreign loans on permanent basis.

"Pakistan's productivity capacity is very low as compared to the standard average", he said adding that in agriculture sector alone, the country could earn billions of dollars by taking measures to increase the crops' yield per acre.

For instance, he said the per acre wheat production in Pakistan can be increased by up to 80 percent by improving on-farm management. Similarly, he said, "our industrial production possess numerous inefficiencies due to which we are not competitive...