– Policy talks for the next phase of the $7 billion loan package for Islamabad were formally launched on Tuesday between Pakistan and the visiting delegation of the International Monetary Fund, a major lender.

Nathan Porter is in charge of the IMF delegation, while Finance Minister Muhammad Aurangzeb leads Pakistan’s economic team. Rashid Langrial, the chairman of the Federal Board of Revenue (FBR), is also taking part in the discussions.

The IMF delegation will be briefed by Finance Minister Aurangzeb on Pakistan’s present economic circumstances. The IMF delegation will make suggestions for the budget for the upcoming fiscal year. Pakistan will submit a report on the first half of the current fiscal year as well as a report on the execution of the IMF-imposed restrictions under the $7 billion loan program.

The IMF mission will be briefed by the Pakistani team on real estate and agricultural income taxes.

The IMF delegation will offer suggestions about the release of a $1.1 billion tranche to Pakistan following the negotiations.

The IMF mission negotiations will last until March 15.

The IMF mission was previously briefed on tax and energy policies at the Pakistan Business Council office.

During an introductory session, representatives from the Ministry of Finance and the Ministry of Planning gave the visiting International Monetary Fund (IMF) delegation an update on the economic review for the release of the next installment of $1 billion from the $7 billion bailout package.

During an introductory session, representatives from the Ministry of Finance and the Ministry of Planning gave the visiting International Monetary Fund (IMF) delegation an update on the economic review for the release of the next installment of $1 billion from the $7 billion bailout package.

The Green Initiative Report was presented to the international lender by the Planning Commission, Ministry of Finance, and Ministry of Planning, according to sources.

A report on climate change projects as part of the Green Initiative was also presented by the Ministry of Planning.

As part of the IMF’s initial demands, the Ministry of Finance instructed the Planning Commission to compile the report in response to the IMF’s request.

According to Planning Commission sources, the meeting also covered the current fiscal year’s Public Sector Development Programme (PSDP) budget cuts and expenditures.

Additionally, during the introduction session, representatives from the Ministry of Planning and the Ministry of Finance gave a briefing.

The economic team would start formal negotiations with the IMF delegation tomorrow, according to sources at the Ministry of Finance.

According to the timetable, the Ministry of Finance and other ministries will meet with the IMF tomorrow.

Punjab Chief Minister Maryam Nawaz has implemented emergency steps to address haze and air pollution, including a comprehensive afforestation campaign as part of the Chief Minister’s Plant for Pakistan Initiative. The initiative intends to cultivate 42.5 million trees on 48,368 acres in the province.

Senior Provincial Minister Marriyum Aurangzeb announced that 7.361 million trees will be planted on 8,496 acres in the 2024-25 fiscal year, with a budget of Rs. 1,800 million allocated for this initiative. To date, Rs. 1,085 million has been expended, accounting for 60% of the projected expenditure.

During the Spring Plantation Drive, 5.966 million trees would be planted over 6,637 acres in several districts, including Lahore, Kasur, Gujranwala, Gujrat, Murree, Rawalpindi, Sargodha, and Muzaffargarh. Over 300 sites have been designated for afforestation.

The project encompasses the cultivation of Moringa, Chir, Neem, Kikar, Sheesham, Sars, Bakain, Semal, Arjun, and several fruit-bearing trees. The Chief Minister’s Plant for Pakistan Initiative is projected to incur a total expenditure of Rs. 8,000 million.

This effort will convert woods, riverbanks, canals, roadsides, the Potohar Plateau, Murree, and arid areas into green zones. According to the senior provincial minister, 2.73 million trees have been planted across 4,000 acres to date.