Friday, April 19, 2024

Pakistan Nears Completion of IMF Targets, Eyes Final Installment of $1.1 Billion

Pakistan is on the brink of securing the last tranche of $1.1 billion from the International Monetary Fund (IMF) as the caretaker government achieves significant milestones in meeting IMF-set targets.

The Ministry of Finance confirms that out of the 26 criteria set by the IMF for the second economic review, 25 have been fulfilled, with a detailed report sent to the IMF.

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While progress has been substantial, one outstanding requirement remains regarding the amendment of laws governing government-owned institutions like the National Highway Authority (NHA), Pakistan Post, and Pakistan Broadcasting Corporation.

Despite this challenge, the caretaker government has diligently adhered to critical conditions, including refraining from borrowing from the State Bank of Pakistan and ensuring timely payment of external debts.

Efforts to clear arrears in the power sector and eliminate tax exemptions and amnesty schemes have been promptly executed, reflecting the government’s commitment to fiscal responsibility.

Key reforms in the energy sector, such as timely rebasing of electricity rates and gas prices, have been successfully implemented in line with IMF directives.

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The IMF mission is expected to review the comprehensive report on target implementation before its visit to Pakistan, contingent upon the formation of the new government.

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Zubair Yaqoob
Zubair Yaqoob
Zubair Yaqoob is a senior anchor, and an investigative journalist with an impressive 37 years of experience. Zubair's journalistic journey has been marked by a relentless pursuit of truth and a commitment to delivering impactful stories.Zubair's expertise extends beyond borders, reaching as far as Malaysia, where he has left an indelible mark on the international journalism landscape. His global perspective and keen analytical skills have allowed him to navigate diverse cultural landscapes, bringing a unique and enriching perspective to his reporting.Whether he's in the studio or on the field, Zubair continues to be a driving force in the world of journalism, bridging gaps, fostering understanding, and unraveling the stories that matter most. As the Headline PK Author, Zubair remains at the forefront of news, guiding audiences through the complexities of our ever-evolving world.

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