Pakistan and the International Monetary Fund (IMF) examined and discussed Pakistan's economic and fiscal policies as well as reform plans in order to complete the Extended Fund Facility's ninth review. Federal Minister for Finance and Revenue Mohammad Ishaq Dar met the IMF assessment mission's leader Nathan Porter in Islamabad and mentioned the long-standing cordial ties with the IMF.

He briefed the delegation on the fiscal and economic reforms and policies the government is implementing in several areas, such as closing the fiscal gap, maintaining exchange rate stability, and improving the economy's energy sector. He informed them that the electricity sector is undergoing reforms and that a high-level group has been established to develop strategies to counter the threat posed by circular debt.

Dar also thanked the IMF's managing director for the ongoing discussions and said that the government is dedicated to finishing the current programme. As finance minister, he said he had previously completed an IMF programme with success. He pledged to give the IMF mission all of his assistance and to cooperate in order to complete the 9th review under the Extended Fund Facility.

The head of the IMF mission stated his optimism that the government would fulfill IMF requirements for the conclusion of the 9th review. He expressed the hope that Pakistan would continue to make progress on reforms in many areas and successfully conclude the IMF programme on schedule. He continued by saying that Pakistan and the IMF will collaborate on fiscal reforms.

The meeting was attended by IMF resident representative Esther Perez Ruiz, Minister of State for Finance and Revenue Dr Aisha Ghous Pasha, Special Assistant to Prime Minister on Finance (SAPM) Tariq Bajwa, SAPM on Revenue Tariq Mehmood Pasha, Governor State Bank of Pakistan Jamil Ahmed, secretary of finance, chairman of Federal Board of Revenue (FBR), members of IMF delegation and senior officers from the Finance Division.

Credit: Independent News Pakistan-WealthPk