PM Shehbaz Sharif reaches London after concluding Paris visit

Prime Minister Shehbaz Sharif has reached London after concluding his Paris visit, ARY News reported on Friday.

Sources told ARY News that PM Shehbaz Sharif will stay in London for three days and meet Pakistan Muslim League Nawaz (PML-N) Supremo Nawaz Sharif.

The premier is expected to hold consultations over Nawaz Sharif’s return to the country, upcoming general elections and other matters.

After reaching London, PM Sharif met Nawaz Sharif at Avenfield Apartment. While talking to the media, he said that he went to Paris to attend the New Global Financing Pact Summit.

He told the journalists that his meeting with the International Monetary Fund (IMF) Managing Director was held in a friendly environment and he apprised the IMF MD about the fulfilment of all conditions by Pakistan.

Shehbaz Sharif expressed hopes that the loan programme should be approved by the IMF board. He added that the IMF MD asked to hold negotiations with Pakistan on some matters.

The premier said that Finance Minister Ishaq Dar will lead the Pakistan economic team in holding talks with the IMF.

To another question, PM Sharif said that he is aware of the Supreme Court’s (SC) notice regarding the military courts.

Earlier, PM Sharif met Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, on the sidelines of the Summit for a New Global Financial Pact being held at Paris in France.

During the meeting, the two exchanged views on the ongoing programs and cooperation between Pakistan and IMF.

Recalling their recent telephone conversation on 27 May 2023, the premier apprised Ms. Georgieva of Pakistan’s economic outlook.

Shehbaz Sharif outlined the steps taken by the Government for economic growth and stability. He underscored that all prior actions for 9th Review under the Extended Fund Facility had been completed and the Government of Pakistan was fully committed to fulfilling its obligations as agreed with the IMF.

PM Shehbaz Sharif expressed the hope that the funds allocated under the IMF’s EFF would be released as soon as possible.

“This would help strengthen Pakistan’s ongoing efforts towards economic stabilization, and bring relief to its people,” he said while talking to IMF MD.

The IMF MD shared her institution’s perspective on the ongoing review process. The meeting provided a useful opportunity to take stock of the progress in that context.

The meeting was attended by Federal Minister for Climate Change and Environmental Coordination, Sherry Rehman; Federal Minister for Economic Affairs, Sardar Ayaz Sadiq, Federal Minister for Information and Broadcasting, Marriyum Aurangzeb, Minister of State for Finance and Revenue, Aisha Ghaus Pasha, Special Assistant to PM Tariq Fatemi and Pakistan’s Ambassador to France, Asim Iftikhar Ahmad.

It is pertinent to mention here that Pakistan has barely enough currency reserves to cover one month’s imports. It had hoped to have $1.1 billion of the funds released in November – but the IMF has insisted on a number of conditions before it makes any more disbursements.