Tuesday, January 31, 2023

Finance minister seeks PM’s assistance after failing to revive IMF programme

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Finance Minister Ishaq Dar has sought Prime Minister Shehbaz Sharif’s assistance after failing to pacify the International Monetary Fund (IMF) for reviving the loan programme, citing sources, ARY News reported on Tuesday.

Sources told ARY News that Finance Minister Ishaq Dar will attend a crucial meeting with the IMF officials from Qatar via video link, whereas, PM Shehbaz Sharif will also attend the virtual meeting.

The virtual meeting will also be attended by the finance ministry’s senior officers. PM Sharif will apprise the IMF officials regarding the prevailing economic situation.

The economic team of the incumbent government will brief the IMF representatives on the plan of action for the 9th review. The economic team will take the IMF in confidence regarding the steps for increasing the tax net in the mini-budget.

READ: PAKISTAN, IMF YET TO FINALISE SCHEDULE FOR TALKS: SOURCES

Sources within the finance ministry said that the Federal Board of Revenue (FBR) completed preparations for the mini-budget and the tax ordinance will be given a final shape. Pakistan will request the global financing institution to send its mission at the earliest.

After holding the upcoming meeting, the International Monetary Fund will apprise the finance minister’s officials regarding its decision.

‘Pakistan wants to complete 9th IMF review soon’

PM Shehbaz Sharif said that the coalition government wants to complete the 9th review without any further delay and he had told IMF chief executive about Pakistan’s willingness.

He made the statement while launching the ‘Youth Business and Agricultural Loan Scheme’ today.

While speaking on IMF plan, he said that the coalition government wants to complete the 9th review without any further delay and he had told IMF chief executive about Pakistan’s willingness.

“I have told the IMF chief executive that Pakistan is willing to to complete the pending review and incorporate the conditions raised by it,” he added.

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