Pakistan Initiates Discussions with IMF for Release of Second Tranche
Pakistan's compliance with IMF conditions is anticipated to pave the way for a successful review, a testament to its commitment to economic stability and growth.
Karobar
Commencing today, Pakistan is engaging in crucial discussions with the International Monetary Fund (IMF) regarding the release of the next $700 million tranche, marking a significant step in its economic journey.
A specialized IMF review mission, headed by Nathan Porter, Chief of the IMF's country mission, arrived in Pakistan on Wednesday evening. Their primary objective is to evaluate Pakistan's economic performance during the first three months of the ongoing fiscal year, spanning from July to September.
In a promising turn of events, Pakistan has successfully met all the stipulated conditions set by the IMF in anticipation of these review talks, which are part of the $3 billion standby arrangement (SBA) scheduled for November.
Pakistan is optimistic about a successful outcome in the upcoming IMF review.
To remain compliant with IMF stipulations, Pakistan is expected to consider increasing the diesel levy from Rs55 to Rs60 per liter. Gas rates have already witnessed an increase. With Islamabad demonstrating compliance with the conditions for the initial quarter of FY2023-24, Pakistan is optimistic about a successful outcome in the upcoming IMF review.
The nation's ongoing collaboration with the IMF stands as a pivotal aspect of Pakistan's economic development, further solidifying its position in the global economic landscape.
