Under the leadership of Nathan Porter, the International Monetary Fund’s assistant director of the Central Asia and Middle East department, the delegation landed in Islamabad and engaged in discussions with officials from the finance, energy, and Federal Board of Revenue (FBR) departments.
Pakistani authorities, such as Finance Minister Muhammad Aurangzeb and Energy Minister Musadik Malik, informed the IMF group about the actions taken to implement the reforms proposed by the lender.
The ministry had stated that the final review, if it proves to be successful, will result in the release of approximately $1.1 billion. Islamabad successfully obtained a rescue package last summer in order to prevent a sovereign default.
According to sources, the Ministry of Finance expressed optimism for a favorable outcome of the final evaluation. According to sources from the finance ministry, the global lender has not yet imposed any further requirements within the current program.
The conversations pertaining to the ultimate evaluation will conclude tomorrow, in accordance with the previously scheduled timetable. Sources have stated that discussions with the IMF are now taking place in a manner that is both constructive and pleasant.
Sources suggest that Pakistan has met all the crucial requirements for the final evaluation, and the achievement is contingent upon the IMF’s approval.
Earlier today, it was announced that the government of Pakistan provided assurance to the International Monetary Fund (IMF) regarding the acceleration of the privatization initiative.
According to authorities from the finance ministry, the privatization of Pakistan International Airlines (PIA) is progressing according to the established plan, and efforts are being made to conclude the process promptly.
According to sources, the federal government has formulated a plan to privatize the power-sharing firms. Additionally, the list includes other state-owned firms that are experiencing financial losses, such as First Women Bank, state life insurance, and Pakistan Engineering Company.
According to sources, it was disclosed yesterday that Pakistan is expected to finalize the staff-level agreement with the International Monetary Fund (IMF) in the upcoming week.
