An International Monetary Fund mission will arrive in Pakistan in the last week of October for economic review of the standby arrangement agreement.
The Federal Board of Revenue, Ministry of Energy, State Bank of Pakistan, National Electric Power Regulatory Authority and Oil and Gas Regulatory Authority, have been instructed to prepare their implementation reports on the IMF conditions.
The IMF mission will hold talks on the review with the economic managers for over one week. The energy sector’s circular debt, FBR revenue generation and market-based currency exchange rate will be key points of the economic review.
The visiting IMF officials will also review external financing, circular debt management plan, and issuance of bonds.
The team of global lender will review the adjustment and re-basing in the prices of electricity and gas as per the conditions of the standby agreement.
The Ministry of Finance has assured the IMF, a reduction of 180b rupees in circular debt of the power sector by June 2024.
The mission during its stay in Pakistan will also hold meetings with various political parties and discuss the next general elections in the country.
The talks for the second tranche of the IMF bailout will likely to be held in the last week of October.
