IMF team to arrive in Pakistan on Sept. 25 for economic review

ISLAMABAD: The International Monetary Fund (IMF) team will visit Pakistan from September 25 to October 08 for the second economic review under the Extended Fund Facility (EFF), sources said.

“The sides will first hold technical talks and then policy level dialogue,” according to sources.

The delegation will hold talks with the ministries of finance, energy, planning, the State Bank of Pakistan, FBR, OGRA, NEPRA and other institutions and ministries.

The IMF delegation will hold separate talks with Punjab, Sindh, Khyber Pakhtunkhwa and Balochistan, sources said. “Pakistan has attained targets for the release of the third tranche under the Extended Fund Facility,” sourecs said.

Pakistan’s budget deficit has been according to the target set by the IMF. “Current Account deficit and non-tax revenues have also been according to the IMF targets”, sources said.

Sources said that the inflation rate has been below the 5.1% target set by the IMF. The tax revenue targets have been minutely below the target owing to the flood situation, sources said.

According to sources, flooding has affected major crops of rice, maize and cotton. “The economic growth targets could be affected owing to the impact of floods over major crops”.

Sources further said that the tax revenue policy board in Pakistan has been transferred to the finance ministry.

Successful completion of the review will pave the way for the IMF Board’s approval of the $1 billion tranche under the $7 billion EFF program, under which Pakistan has already received over $2 billion in two installments.