IMF delegation to arrive in Pakistan on May 10: sources

ISLAMABAD: A delegation of the International Monetary Fund (IMF) will arrive in Pakistan on May 10 to hold decisive talks with the federal government, citing sources, ARY News reported on Saturday.

The global financial institution’s delegation will stay in Pakistan for 10 days to hold talks with the Pakistani officials. Sources told ARY News that the IMF delegates will also hold talks over the budget recommendations with the Pakistani officials.

It was learnt that the volume of the loan programme is likely to be extended from $6 to $8 billion after pre-budget consultations. Moreover, the delegation will also discuss the federal government’s plan regarding subsidies on petroleum products, electricity and gas.

The IMF delegation will also review the taxes and duties collections in the next round of talks. Sources added that they will hold talks about ending additional subsidies worth Rs500 billion.

READ: MIFTAH ISMAIL MEETS IMF EXECUTIVE DIRECTORS IN WASHINGTON

On April 24, it emerged that Finance Minister Miftah Ismail had agreed with International Monetary Funds’ (IMF) recommendations to reduce fuel subsidies phase-wise.

Miftah Ismail had held a meeting with the executive directors of the International Monetary Fund (IMF) in Washington for the revival of the Extended Fund Facility (EFF) programme last month.

The finance minister had hinted at carring forward the IMF program and agreed to curb subsidies on the fuel and electricity phase-wise. Meanwhile, the IMF had said it has no objection to the Income Support Programme and added Pakistan can continue subsidies for the marginalised section of the society.

The IMF had also shown its consent to the continuation of the Sehat Card scheme.

READ: PAKISTAN, IMF RESUME TALKS IN WASHINGTON OVER BAILOUT PACKAGE

Last month, the finance minister had said that the government would make all-out efforts to restore the Extended Fund Facility (EFF) programme with International Monetary Fund (IMF).

He had said the government could reduce public sector development spending with other necessary budgetary discipline arrangements. “We will restore the programme. If government had to tighten its belt, it will do so,” he said adding that no extra burden would be put on people.

He had said the government would give a people-friendly and development-friendly budget despite all odds created by the PTI government. He had expressed the hope that value of rupee would not slide further while the markets would also perform well.