ISLAMABAD: IMF Mission Chief to Pakistan Nathan Porter heading a delegation met the Finance Minister Muhammad Aurangzeb here on Tuesday (12th November, 2024).
In the premature rendezvous aimed at averting any risk to the $7 billion bailout, Fin Min was accompanied by Minister of State for Finance Ali Pervez Malik, Governor State Bank, Chairman FBR and senior officials of the Ministry of Finance.
IMF mission, that is in Islamabad from 11th till 15th of November, suggested in the first meeting that the GoP should reduce its expenditures or present a mini budget to meet the shortfall of Rs.189 billion
It may be recalled that on 27th day of October, State Bank of Pakistan (SBP), while acknowledging the receipt of $1.03 billion IMF tranche told the Media that the amount would be reflected in SBP liquid reserves.
IMF had approved $ 7 billion EFF (on 25th Sept, 2024) for Pakistan, at an interest rate of less than 5%.
Commenting on the 3-year-program, MD of IMF Kristalina Georgieva stated: “We do have good news. We have completed the review of the programme successfully. I want to congratulate the government of Pakistan and the people of Pakistan for moving forward with the home-defined, Pakistan’s own reforms”.
PM Shehbaz Sharif, while appreciating the support extended by Saudi Arabia, China and the UAE, thanked the MD of IMF Kristalina Georgieva for the approval of Pakistan’s 25th IMF program. Cynics go haywire wondering where all the money had gone since 1958 and why the citoyens of Pakistan have to pay 81 per cent of country’s revenue for internal/external debt servicing!
Newspakistan.tv
