Pakistan Prepares for IMF Talks Amid Floods
Pakistan Prepares for Two-Phase IMF Talks Amid Flood Challenges
ISLAMABAD — Pakistan is gearing up for two rounds of crucial discussions with the International Monetary Fund (IMF), sources confirmed. The first phase will focus on technical matters, followed by high-level policy negotiations. Officials said meetings are scheduled with the Ministry of Finance, the Ministry of Energy, the Ministry of Planning, and the State Bank of Pakistan.
In addition, the IMF team will hold sessions with key regulatory bodies, including the Federal Board of Revenue (FBR), OGRA, and NEPRA, along with other relevant ministries. Separate consultations will also take place with provincial governments in Punjab, Sindh, Khyber Pakhtunkhwa, and Balochistan.
Sources noted that Pakistan has already met most of the targets required to secure the third tranche of its IMF loan program. The country’s budget deficit, current account deficit, and non-tax revenue collection remain in line with IMF benchmarks. Inflation has also stayed below the target rate of 5.1 percent.
However, recent floods have slightly dented tax revenues, and major crops such as rice, maize, and cotton have been heavily affected. Officials caution that damage to these crops could hinder the country’s economic growth targets.
Meanwhile, responsibility for shaping Pakistan’s tax policy has recently been transferred from the FBR to the Ministry of Finance, signaling a shift in the government’s approach to fiscal management.
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