Nathan Porter commends Pakistani authorities for taking decisive measures to align policies with the economic reform program.


Islamabad: Nathan Porter, the International Monetary Fund's (IMF) Mission Chief to Pakistan, announced on Tuesday that negotiations were in progress to reach an agreement regarding financial assistance from the global lender.
Porter commended Pakistani authorities for taking decisive measures to align policies with the economic reform program. The statement by Porter comes as Pakistan engages in discussions with the IMF to conclude the ninth review of the $6.5 billion Extended Fund Facility, agreed upon in 2019, and secure the release of a $1.2 billion tranche.
The review process has faced delays since October, but the government is optimistic about its completion soon, with Prime Minister Shehbaz Sharif engaging in multiple discussions with the IMF chief in recent days.
Porter highlighted that Pakistan has implemented various measures, including the passage of a budget by parliament to expand the tax base and allocate more funds for social and development spending. Additionally, steps have been taken to enhance the functioning of the foreign exchange market and tighten monetary policy to address inflationary and balance-of-payment pressures.
"The IMF team continues to hold discussions with Pakistani authorities, aiming to swiftly reach an agreement on financial support from the IMF," Porter added.
Earlier, Prime Minister Shehbaz Sharif once again reached out to the IMF Managing Director, Kristalina Georgieva, expressing hope that a decision regarding the stalled bailout package would be reached within a day or two.
This recent conversation followed three meetings between the prime minister and the IMF chief in Paris last week, along with the National Assembly's recent approval of the revised budget for the year 2023-24.
"The IMF director general acknowledged the efforts of the finance minister and his team for the program's completion during the meetings in Paris," stated a release from the Prime Minister's Office.
While expressing optimism for the prompt release of the delayed loan, the prime minister reiterated his commitment to achieving economic improvement through collaborative endeavors.
Judiciary is facing challenges in journey to deliver justice: CJP Afridi
- 6 منٹ قبل

Indian soldiers protest over lack of allowances
- 2 گھنٹے قبل
Blasphemy case: Engr Muhammad Ali Mirza remanded in NCCIA custody for seven days
- 43 منٹ قبل

The Ferrari Testarossa returns as a plug-in hyrbid with 1035hp
- 3 گھنٹے قبل

Gold prices decline in Pakistan today
- ایک گھنٹہ قبل

The web has a new system for making AI companies pay up
- 3 گھنٹے قبل
Wasim Akram tells Pakistan, India to forget noise and ‘enjoy’ Asia Cup clash
- 37 منٹ قبل

How platforms are responding to the Charlie Kirk shooting
- 3 گھنٹے قبل

OpenAI reportedly signs $300 billion Project Stargate cloud deal with Oracle
- 3 گھنٹے قبل

Field Marshal, PM leave for important visit to Bannu
- 2 گھنٹے قبل

35 Khawarij killed, 12 soldiers martyred in KP IBO
- 2 گھنٹے قبل

World Athletics Championships begin in Tokyo
- ایک گھنٹہ قبل