IMF urges Pakistan to strictly implement loan program targets

Islamabad: The International Monetary Fund (IMF) said that Pakistan needs to strictly implement the goals of the current loan program.

The IMF stated regarding the negotiations with Pakistan that they negotiated from November 12 to 15 under the leadership of Mission Chief Nathan Porter. The talks included discussions with the federal government as well as provincial governments. Representatives of the private sector were also discussed.

According to the IMF statement, discussions with Pakistani officials on economic issues were positive. The recent talks were held for the IMF’s semi-annual review. The talks reviewed economic reforms, economic policies, and government performance for economic development.

IMF Mission Chief Nathan Porter said that negotiations with Pakistan were overall positive. The government is committed to increasing tax revenue from a sector that is not paying taxes. There were also discussions on increasing the role of provinces in social security and development.

According to Nathan Porter, special discussions were held on energy reforms and energy challenges in Pakistan. There is a need to increase the share of the private sector in many sectors and limit the share of the government of Pakistan. Pakistan needs to strictly implement the goals of the current loan program.

The IMF mission chief further said that strict implementation of the goals of the current loan program can improve the quality of life of the people. The attitude of the Pakistani authorities towards the negotiations was very encouraging and supportive. The IMF Executive Board will be informed about the negotiations with the Pakistani authorities. The IMF delegation will visit Pakistan again in the first quarter of 2025.