Pakistan and IMF held virtual negotiations for revival of a loan program during which the international lender expressed satisfaction over the country’s decisions, while Pakistan insisted for early finalization of the staff-level agreement.
Sources in the Finance Ministry told the media that the International Monetary Fund did not place any new demands during the virtual session held on Monday.
RecommendedMust Read
“The virtual talks are moving in a positive direction,” Finance Ministry sources said.
They said the IMF has expressed satisfaction over the measures taken by Pakistan.
Pakistani negotiators informed the IMF representatives about the estimate collection of foreign exchange reserves of $10 billion till June.
The virtual meetings between Pakistan and IMF are significant to unlock a tranche of $1.1 billion.
The refinancing of a $1.3 billion commercial loan from China, the rollover of loans with Saudi Arabia and the United Arab Emirates, and possible additional financing were also discussed.
A briefing was also given on the issue of 25% GST on hundreds of luxury items.
Pakistan recently introduced an over $170 billion mini budget along with increasing the prices of utilities, including electricity and gas, to meet the IMF’s conditions.
Türkiye-Syria quake relief
Finance Minister Ishaq Dar on Monday chaired a meeting on Pakistan’s assistance to Turkiye and Syria’s earthquake victims and remodeling of the National Disaster Management Authority (NDMA), at the Finance Division.
The NDMA chairman briefed the meeting on immediate relief provided by the Pakistan government to support the quake-hit countries.
The chairman also highlighted a comprehensive and timely relief plan consisting of cargos through air, road and sea routes for possible help from Pakistan government for Turkey and Syria.
Meanwhile, the minister also chaired a meeting on the establishment of passport offices. The Interior Ministry told the meeting that over Rs26 billion were collected on the issuance of 4.5 million passports to date.
Interior Minister Rana Sanaullah Khan, SAPM on Revenue Tariq Mehmood Pasha, the interior secretary also attended the meeting among others.
