IMF programme: Ishaq Dar seeks assistance from UK govt

ISLAMABAD: Finance Minister Senator Ishaq Dar has sought assistance from the United Kingdom (UK) government for the rival of the International Monetary Fund (IMF) loan programme, ARY News reported on Tuesday.

Ishaq Dar expedited efforts to sign a staff-level agreement with the International Monetary Fund (IMF).

The finance minister held a virtual meeting with the British Minister of State in the Foreign and Commonwealth & Development Office (FCDO) Andrew Mitchell.

Dar discussed the economic situation of Pakistan, as well as the progress regarding the ongoing IMF talks.

READ: Ishaq Dar admits smuggling of dollars still taking place

Sources told ARY News that the British minister assured Dar of the British government’s cooperation in the Pakistan-IMF agreement.

Finance Minister Senator Mohammad Ishaq Dar held a virtual meeting with H.E Mr.Andrew Mitchell,Britain’s Minister of State in Foreign,Commonwealth & Development Office(FCDO) and discussed the economic situation of Pakistan as well as progress regarding on-going IMF talks. pic.twitter.com/RcipX7D0K7

— Ministry of Finance (@FinMinistryPak) June 20, 2023

Earlier, Finance Minister Senator Ishaq Dar said that Pakistan and International Monetary Fund (IMF) talks have not failed nor the negotiation phase has concluded.

Ishaq Dar, while talking to journalists a few days ago, predicted that the 9th review of the IMF programme will be completed this month. “Our talks with the IMF are underway and it has not concluded yet. We have already made the payment for which Fitch expressed concerns.”

“The Pakistan-IMF talks have not failed and there is no issue in payments till June 30. We are fully prepared to make timely payments till June 30.”

Read: US supports IMF loan program for Pakistan, says Yellen

The finance minister claimed that some elements want to see Pakistan like Sri Lanka before holding talks with the IMF. “Geopolitics is underway to default Pakistan. The amendments in the State Bank Act are intolerable. We have also amended the State Bank Act, however, it is incomplete yet.”

Dar said that State Bank is a bank of Pakistan and it does not belong to any global institution. “It is our priority to make timely payments including bonds.

Rejecting the rumours, Ishaq Dar that the federal government will not decide to freeze lockers, gold and Roshan Digital Accounts. He added that the enemies of Pakistan are spreading fear among people by telling lies.