Agreeing to implement strict conditions, the government convened an IMF review mission

Agreeing to implement strict conditions, the government convened an IMF review mission

ISLAMABAD: After the approval of the Prime Minister regarding the implementation of IMF's strict conditions, Pakistan has sent a written request to the IMF through the Finance Secretary to send its review mission to Islamabad next week to 7 End the deadlock in the 9th review of the Extended Fund Facility worth billions of dollars.

Speaking to a group of journalists, top senior officials confirmed that the Prime Minister chaired a high-level meeting online from Lahore the other day, in which it was decided that the IMF review mission would visit Islamabad. be invited.

Thus, the government has now concluded that there is no other option left in terms of the immediate resumption of the IMF program.

An official source said that a positive response from the IMF is expected. He said that the economic team under Prime Minister Shehbaz Sharif has finalized the macroeconomic and financial framework and as soon as it is agreed with the IMF, it will be implemented.

A senior official said that there was concern among finance ministry (KQ block) policymakers that despite taking additional tax measures and raising electricity and gas prices, what would happen if the IMF declared these measures insufficient? Policymakers, therefore, decided to first agree on a policy developed with IMF officials and then implement it.

Under the revised macroeconomic and fiscal framework, the government will convince the IMF to revise the Petroleum Development Levy (PDL) from Rs 855 billion to Rs 550 billion, the FBR said. The target will remain at 7470 billion rupees.

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