Pakistan, IMF make progress in ongoing talks for 9th review

The policy-level talks between Pakistan and International Monetary Fund entered a crucial phase as the IMF mission held a virtual meeting with Prime Minister Shehbaz Sharif, citing sources, ARY News reported on Wednesday.

Major progress was witnessed in ongoing talks between IMF and the federal government on the ninth review of Pakistan’s $7bn Extended Fund Facility (EFF).

The IMF mission held a virtual meeting with PM Shehbaz Sharif to discuss the economic situation and discussions on the ninth review. The meeting was also attended by special assistants to the prime minister (SAPMs) on finance, revenue and energy.

READ: PAKISTAN TERMS IMF’S FEW CONDITIONS ‘UNREALISTIC’

Sources said that PM Sharif discussed the economic situation with the IMF delegates and the resumption of the loan programme. He also assured the IMF delegation of implementing the conditions and the set targets.

The officials from the energy ministry presented the review gas circular debt management plan to the premier.

Sources added that the federal government assured the IMF officials of the necessary steps to restore confidence in implementing the conditions. The government officials also asked the IMF mission to conclude the talks on the ninth review by tomorrow.

READ: PAKISTAN, IMF TALKS ENTER CRUCIAL PHASE

In a relevant development today, Minister of State for Finance and Revenue Dr Aisha Ghaus Pasha hinted at the revival of the IMF loan programme after major progress was made on negotiations for the ninth review.

Dr Aisha Ghaus Pasha said in a statement that the federal government is making maximum efforts to not increase the financial burden on the common man. She said that the financial burden of inflated power tariffs and taxes will be put on the wealthy nationals.

She added that the economic team received approval for the new decisions from the prime minister. Dr Pasha said that the IMF loan programme is crucial for Pakistan and ongoing negotiations are heading toward the conclusive phase.

The state minister said that the IMF mission will hold a meeting with the finance minister to clear some points before the programme resumption.