IMF's third review talks by the end of current month: Aurangzeb

ISLAMABAD: Finance Minister Muhammad Aurangzeb on Wednesday said that the talks over the IMF’s third review will be held by the end of current month.

In an informal media talk finance minister said that an external financing plan has been delivered to the International Monetary Fund (IMF). “We are committed to the external financing plan handed over to the IMF,” he said.

Replying a question on the National Finance Commission (NFC) Award, Aurangzeb said that the talks are ongoing over the NFC. “A meeting can be summoned after the technical committee’s sessions,” he said.

He said the United Arab Emirates (UAE) $3 billion loan has been at its place.

It is to be mentioned here that the UAE has extended the rollover of a $2 billion loan to Pakistan for a further one month, ARY News reported on Tuesday, citing sources. According to sources, Pakistan has renewed its request to the UAE for the rollover of a total $3 billion for a longer period.

Federal finance minister also said that Pakistan’s inaugural Panda Bond issuance in China will be held after annual vacations.

A planned $1 billion programme aimed at diversifying funding sources and supporting debt sustainability.