People belonging to different sections of society have hailed signing of Staff Level Agreement between Pakistan and International Monetary Fund (IMF) under which Islamabad will receive three billion dollars under Stand-By Agreement.

Prominent economist Abid Qayyum Sulehri said it is a good step which will further result in economic stability of the country and help Pakistan to avoid the default like situation.

Professor Waseem Shahid of Quaid-e-Azam University Islamabad said the agreement with IMF will positively impact Pakistan’s Foreign Exchange payments. He said it will also help easy availability of loans from other world countries, which will end foreign exchange crisis.

Former Senior Vice President Khyber Pakhtunkhwa Chamber of Commerce Shahid Hussain said the agreement will protect Pakistan from the risk of default.

President Lahore Chamber of Commerce & Industry while congratulating the government said the agreement will reduce the inflation rate in the country. He hoped that it would also stop brain drain which can yield positive output.

Source: Radio Pakistan