Federal Finance Minister Senator Muhammad Aurangzeb expressed confidence on Tuesday that the International Monetary Fund (IMF) Board will sanction the $7 billion, 37-month loan deal, for Pakistan during its meeting on Wednesday.
“Pakistan successfully concluded a 9-month SBA (Stand-by Arrangement) with IMF and we have its board meeting tomorrow (Wednesday) here in the US. We are very hopeful the board would approve the 37-month 7 billion Dollars programme,” he said speaking at “High Level Private Sector Dialogue – CPEC-II and the Region” virtually through Zoom.
The event was organised by the Pakistan Regional Economic Forum.
Pakistan and the IMF reached an agreement on an Extended Fund Facility (EFF) in July. The IMF said the programme was subject to approval from its executive board and obtaining “timely confirmation of necessary financing assurances from Pakistan’s development and bilateral partners”.
The finance czar said Pakistan was committed to structural reforms under the programme, and it needed to pursue the reform agenda, whether in taxation, the energy sector, state-owned enterprises, or privatisation.
