IMF Mission Opens Talks on Pakistan’s EFF, RSF Reviews

Finance Minister Muhammad Aurangzeb on Tuesday held an opening meeting with an International Monetary Fund (IMF) delegation led by Iva Petrova to begin the fourth review of Pakistan’s $7 billion Extended Fund Facility (EFF) and the third review of the Resilience and Sustainability Facility (RSF).

The Ministry of Finance said the talks covered key issues related to the ongoing programme reviews. Successful completion could unlock about $1.2 billion in combined EFF and RSF disbursements. 

The IMF mission had earlier met senior State Bank of Pakistan officials in Karachi to discuss monetary policy, inflation and the exchange rate.

In Islamabad, officials also briefed the mission on the digitisation of asset declarations for around 10,000 federal civil servants, who must submit their declarations by October 30.

Meanwhile, FBR officials said disruptions linked to the Strait of Hormuz had caused an estimated Rs144 billion revenue loss by affecting fuel prices and economic activity.

Despite the shortfall, the FBR expressed confidence in meeting its first-quarter revenue target of Rs3.053 trillion by September 30. 

Banks in Pakistan to Extend Working Hours Till 10pm on Sept 30

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