By Muhammad Luqman
Pakistan and the International Monetary Fund (IMF) will resume talks in the capital, Islamabad on April 29 to finalize a bail out package, needed by the South Asian country to overcome financial woos.
The IMF mission, headed by Ernesto Ramirez Rigo, will reach Pakistan on Monday and will be in the country till May 7. The mission will also visit various institutions during their time in the country, according to media reports.
This time , Pakistan delegation will be led by Advisor to Prime Minister on Finance, Dr. Abdul Hafeez Sheikh who is country’s new economic manager after the Finance Minister Asad Umar stepped down on April 18.
Pakistan’s Ministry of Finance has issued a notification to all relevant ministries and institutions and sought data from ministries concerned, including the Federal Board of Revenue (FBR).
The nine-month economic data is also being compiled for discussion with the IMF mission.
IMF, as the media reports suggest, is asking Pakistan to increase the country’s Gross Domestic Product (GDP) by 13.2 per cent, while the government has assured an increase by 12.7 per cent.
During negotiations with the IMF, a detailed discussion is also expteced on the revenue framework.
The review mission will be informed about the progress of increasing the electricity tariff, devaluation of Pak rupee, tax revenues on mobile phones, additional revenue, the amnesty scheme and the terms of loan adjustment.
Meanwhile, Pakistan’s Prime Minister Imran Khan, presently on a four-day visit to China, met Managing Director of International Monetary Fund (IMF) Christine Lagarde on the side lines of 2nd BRF in Beijing.
PM Imran Khan and IMF chief discussed prospects for a comprehensive policy package and international financial support to help stabilize the economy of Pakistan, according to a statement issued by Ministry of Finance.
Earlier, Imran Khan held a meeting with Kristalina Georgieva, CEO of the World Bank.
He was accompanied by the Foreign Minister and Adviser on Finance and Adviser on Commerce.
The Prime Minister informed CEO, World Bank of the recent steps taken by the government for improving the economic and fiscal situation in the country.
He appreciated the role played by the World Bank in regional connectivity, poverty alleviation, financial management, provisional projects, DASU and other infrastructure projects and ease of doing business.
The Prime Minister also informed the CEO about the socio-economic uplift measures taken up by the government and creation of “Ehsaas” social welfare programme.
The CEO of the World Bank pledged to further strengthen cooperation with Pakistan in the areas of disbursements programme lending and guarantees provision for raising external funds.
