An International Monetary Fund (IMF) review mission began its work simultaneously in Karachi and Islamabad on Thursday, holding discussions with authorities on mixed programme performance without the customary opening engagement with Minister for Finance and Revenue Muhammad Aurangzeb, who is currently on a visit to the United States.
Sources said the introductory meeting with Mr Aurangzeb, initially scheduled for Sept 25, has now been moved to Monday (Sept 29) in his absence. In the meantime, two IMF teams — one dealing with monetary policy and the other with fiscal policy — are engaged with the State Bank of Pakistan and federal government entities.The mission is expected to stay for about two weeks and will also hold forward-looking discussions, pressing the authorities to expedite implementation of end-December 2025 targets.
According to the sources, the government has already used one-third of the Rs390 billion budgetary allocation for natural disasters and emergencies, clearing Rs130bn in past dues owed to commercial banks for incentives and fees linked to remittances sent through formal channels.
