BusinessPakistan-IMF economic review talks further delayed

Pakistan-IMF economic review talks further delayed

The Seventh Economic Review Talks between Pakistan and the IMF were further delayed. The two sides agreed to continue negotiations for the next tranche of 96 million dollar.

Negotiations for the next tranche of the 6 billion dollar loan program from the IMF have been further delayed. The government is still in talks with the International Monetary Fund (IMF) on a relief package of Rs 246 billion based on a reduction of Rs 10 per liter in petrol and diesel prices and Rs 5 per unit in electricity prices and a tax amnesty scheme for industrial development. Couldn’t be satisfied.

According to the Ministry of Finance, the IMF has hinted at further talks on the industrial development package.

The Ministry of Finance said that both the parties are engaged in the process of data sharing on a technical basis on a permanent basis. The talks, which started on March 3, were to be completed in two weeks and Finance Minister Shaukat Tareen had hoped that the talks would be completed by last Monday and Tuesday.

According to the Ministry of Finance, the ongoing talks focus on the economic targets, the recent relief package and the scheme announced for the industrial sector.

Pakistan has provided details of financial arrangements for the relief package to the IMF. By the end of December 2021, all the set economic targets have been achieved. Following the completion of the technical negotiations, the draft Memorandum on Economic and Financial Policies will be finalized.

The IMF Executive Board is scheduled to meet in late April, and the government is committed to successfully completing the IMF program in September. Pakistan has so far received more than 3 3 billion in funding from its 6 billion dollar debt program.

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