ISLAMABAD: The International Monetary Fund (IMF) staff-level mission led by its Mission Chief, on Thursday, held a meeting with the caretaker Finance Minister Dr Shamshad Akhtar before embarking on the technical-level discussion from Friday (Nov 3)

The Finance Ministry, in a statement, said the caretaker finance minister held a meeting with IMF review mission led by IMF Chief Nathan Porter at the Finance Division.

The meeting was attended by IMF resident representative Esther Perez Ruiz, SBP Governor Jamil Ahmed, Chairman FBR, Chairman SECP, Secretary Finance, members of the IMF delegation and senior officers from the Finance Division.

Govt appears confident ahead of SBA talks

Shamshad Akhtar welcomed the delegation and shared progress on the Standby Arrangement (SBA) and briefed the mission on fiscal measures being taken by the government to improve the economic situation.

The meeting also included discussions on comprehensive reforms and measures undertaken by the Federal Board of Revenue (FBR) and the government’s strategies to address the circular debt issue.

Nathan Porter appreciated the government’s commitment to meeting the 1st quarter targets and commended the government’s efforts and measures taken in some critical areas. He further underscored the importance of continuation of these efforts for staying on track for economic stability of the country.

The caretaker finance minister expressed her appreciation for the continued support and assistance of the IMF. She reaffirmed the government’s commitment to working closely with the IMF to ensure successful completion of the SBA and achieve the economic objectives, the ministry added.

An official, on condition of anonymity, said that the IMF team wanted a briefing on the State-Owned Enterprises (SOEs) and it was assured that a briefing in this regard would be arranged.

The staff mission, sources added, also wanted to know how the government would proceed in future on implementation.

The discussions on the technical level talks would be followed by the policy level. Policy level talks would be headed by the caretaker finance minister, which are likely to continue for around two weeks. During the technical level talks, ministries and Divisions would share data of their respective sectors with the IMF for review.

Copyright Business Recorder, 2023