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Pakistan-IMF talks to begin from Aug 6 in Dubai

ISLAMABAD: Round of negotiations between Pakistan and the International Monetary Fund (IMF) for fourth review under $6.64 billion Extended Fund Facility (EFF) will start in Dubai from August 6, ARY News reported.

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Sources informed that officials of budget wing Finance Ministry, State Bank of Pakistan as well as officials of Federal Board of Revenue (FBR) and Ministry of Water and Power would take part in technical-level discussions that would be conducted from August 6 to August 11.

The IMF has proposed a new benchmark at the conclusion of its third review with respect to steps being taken to improve the State Bank of Pakistan’s (SBP) internal operations by re-establishing an advisory monetary policy committee to advise the Board on its policy decisions.

It had further suggested the establishment of a Board committee to centralise and oversee risk management activities in the bank and start publishing summaries of the monetary policy proceedings of the Board meetings and monetary policy committee deliberations.

According to sources IMF will be provided the complete data of last quarter of fiscal year 2013-14, for which concerned ministries and institutes have been advised to provide all concerned data and record to external finance wing of Finance Ministry.

 

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