ISLAMABAD: The International Monetary Fund (IMF) has released a statement on the negotiations with Pakistani authorities.
In the statement issued by the IMF, it has been said that negotiations were held with Pakistan from November 12 to 15 under the leadership of Mission Chief Mr. Nathan Porter.
It has been said in the declaration that the representatives of the private sector were also discussed in the negotiations.
The IMF statement said that discussions with Pakistani authorities on economic issues were positive.
Staff visits are a standard practice for countries with semi-annual program reviews and aim to engage with the authorities and other stakeholders on the country’s economic developments and policies and the status of planned reforms.
At the end of the visit, Mr. Porter issued the following statement:
“We had constructive discussions with the authorities on their economic policy and reform efforts to reduce vulnerabilities and lay the basis for stronger and sustainable growth. We agreed with the need to continue prudent fiscal and monetary policies, revenue mobilization from untapped tax bases, while transferring greater social and development responsibilities to provinces.
In addition, structural energy reforms and constructive efforts are critical to restore the sector’s viability, and Pakistan should take steps to decrease state intervention in the economy and enhance competition, which will help foster the development of a dynamic private sector.
Strong program implementation can create a more prosperous and more inclusive Pakistan, improving living standards for all Pakistanis.
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We are encouraged by the authorities’ reaffirmed commitment to the economic reforms supported by the 2024 Extended Fund Facility (EFF). The next mission associated with the first EFF review is expected in the first quarter of 2025.
