IMF-Pakistan talks on second economic review to begin tomorrow

The International Monetary Fund (IMF) delegation will reach Pakistan tomorrow for the second economic review talks, ARY News reported on Wednesday, citing sources.

According to sources, an IMF delegation will visit Pakistan from September 25 to October 8.

The talks will be held in two phases — the first focusing on technical discussions, followed by policy-level negotiations. Meetings will take place with the Ministry of Finance, Ministry of Energy, Ministry of Planning, and the State Bank of Pakistan.

Additionally, the IMF team will hold sessions with the Federal Board of Revenue (FBR), OGRA, NEPRA, and other relevant institutions and ministries, the sources said and added that separate consultations will also be conducted with the provincial governments of Punjab, Sindh, Khyber Pakhtunkhwa, and Balochistan.

Sources confirmed that Pakistan has already achieved most of the targets required to secure the third tranche under the IMF loan program.

The country’s budget deficit, current account deficit, and non-tax revenue performance remain aligned with IMF benchmarks. Inflation has also remained below the target rate of 5.1 per cent.

However, due to recent floods, tax revenues have slightly fallen short, while key crops such as rice, maize, and cotton have been severely affected. Officials warn that damage to major crops could negatively impact economic growth targets.

It was also revealed that responsibility for the country’s tax policy has recently been shifted from the FBR to the Ministry of Finance.