ISLAMABAD: Negotiations with the IMF have entered their final stage. In this regard, Pakistan is hopeful for the successful completion of the first review.
After technical level talks between Pakistan and the International Monetary Fund (IMF) mission, the first day of policy level talks was briefed by the Special Investment Facilitation Council. The meeting also considered the expected investment under SIFC and the exemption of taxes given on it.
According to the sources, the policy-level talks between the Pakistani authorities and the IMF will continue till November 15. In today’s policy-level talks, caretaker Federal Minister for Finance Shamshad Akhtar headed the delegation, in which Governor State Bank, Chairman FBR, Ministry of Finance, FBR, State Bank and other officials of Ministry of Energy participated. Head of Mission Nathan Porter led the delegation on behalf of F.
Negotiations between Pakistan and the IMF for the $71 million tranche will begin today
The Ministry of Finance says that the IMF delegation has conveyed its demands and recommendations. Economic data was shared with the IMF at technical level talks and Pakistan is optimistic about the successful completion of the first review.
Sources say that increasing revenue, reducing expenditure, dollar inflows, institutional reforms, National Clean Air Policy, National Climate Finance Strategy, exchange rate, sukuk bonds for new debt, T-bills, issuance of investment bonds, energy during the debt program. In the sector of non-subsidy, measures to reduce budget deficit, rebasing, adjustment and reduction of revolving credit for power sector and petroleum sector have also been put forward.
In addition to this, in the technical level talks, the external financing offered by Pakistan to meet the external financing gap of 6.5 billion dollars, the revenue plan presented by FBR for the remaining period of the current financial year, imports. In the guise of money laundering, making a strict policy on suspicious transactions and making the penalties for suspicious transactions more stringent in the upcoming budget through the Finance Bill, other issues will also be considered.
According to the sources, Pakistan has fulfilled all the important conditions of the IMF for the first review. The staff level agreement will be finalized in the policy level talks and Pakistan will get $710 million if the review talks are completed successfully.