ISLAMABAD- A delegation from the International Monetary Fund (IMF) arrived in Pakistan to conduct a comprehensive economic assessment, the sources privy to the development said on Thursday.
The sources said that the negotiations with the IMF officially kicked off today, with the initial phase focusing on technical discussions and data sharing.
The IMF mission comprises eight members, and, in the negotiations, two representatives from the IMF’s office within the Ministry of Finance are set to participate. Overall, approximately ten individuals will be engaged in these economic deliberations until the 15th of this month.
The inaugural session with the IMF team will be an introductory meeting with Pakistan’s Federal Minister for Finance, Dr. Shamshad Akhtar, leading the Pakistani delegation, alongside the Treasury Secretary Ahmad Buksh Soomro, and the Chairman of the Federal Board of Revenue (FBR) Arif Ahmed Khan. For Pakistan, the IMF mission will be led by Chief of Mission, Nithan YAO.
The negotiations with the IMF, commencing today, will begin with technical discussions, including data sharing. Finance Minister Shamshad Akhtar will steer the Pakistani team during these negotiations, with invaluable support from Secretary of the Treasury Ahmad Buksh Soomro and FBR Chairman Arif Ahmed Khan.
The sources from the Ministry of Finance emphasized that Pakistan successfully met all the stipulated targets, notably raising the diesel price from 55 to 60 rupees. However, it’s worth noting that the final success of the assessment remains subject to IMF approval.
The sources further stressed that Pakistan is fully committed to satisfying all the vital conditions outlined by the IMF for the initial review. The country’s performance in the first three months of the assessment is crucial, and Pakistan’s successful evaluation is expected to lead to the disbursement of approximately 70 million dollars by the IMF.
