Pakistan-IMF matters to be settled today: Ishaq Dar

ISLAMABAD: Finance Minister Ishaq Dar Thursday said that talks with the International Monetary Fund (IMF) are “on track” and matters with the lender related to the loan programme were expected to be settled today, ARY News reported.

“We will give you good news very soon,” the finance minister said in a response to a question after addressing a road safety conference in Islamabad.

The finance minister further said, “The final round of talks with IMF is currently underway. I am going to meet the IMF team today”.

A delegation of the IMF, headed by Nathan Porter, is currently in Islamabad for discussions on the ninth review. The talks are expected to be concluded today.

The policy-level talks between Pakistan and the IMF entered in a crucial phase after the IMF mission held a virtual meeting with Prime Minister Shehbaz Sharif on Wednesday.

Sources earlier told ARY News that the IMF has conditionally agreed to exempt Rs475 bln in primary budget deficit, making the exemption conditional to verification of flood relief expenditure.

Sources claimed that the lender demanded the records of flood rehabilitation expenditures from Pakistan, adding that the government would have to provide complete monitoring of flood expenditures and details.

According to sources, the International Monetary Fund (IMF) has been convinced to subsidy for poor energy consumers.

Power and gas tariffs for big consumers are likely to be enhanced, as the government has agreed to hike gas and electricity rates for the rich, sources said.

The lender will add some of its conditions in the circular debt management plan. “The government preparing to enforce decisions taken by the gas and power regulators OGRA and NEPRA.

“The final draft of the Memorandum of Economic and Financial Policy will be prepared today,” sources said. “Subsidy for poor consumers will remain intact in the circular debt management plan,” sources added.