The latest reports suggest that the inaugural session with the IMF team will feature an introductory meeting, with Pakistan's Federal Minister for Finance, Dr. Shamshad Akhtar, leading the Pakistani delegation.
ISLAMABAD: (UrduPoint/Pakistan Point News-Nov 2nd, 2023) Pakistan is hosting a delegation from the International Monetary Fund (IMF) for a comprehensive economic assessment, according to sources familiar with the matter.
The negotiations with the IMF formally commenced today, with an initial focus on technical discussions and data sharing.
The inaugural session with the IMF team featured an introductory meeting, with Pakistan's Federal Minister for Finance, Dr. Shamshad Akhtar, leading the Pakistani delegation. The team also included Treasury Secretary Ahmad Buksh Soomro and the Chairman of the Federal board of Revenue (FBR), Arif Ahmed Khan. Heading the IMF mission for Pakistan is Chief of Mission, Nithan YAO.
The IMF mission consists of eight members, and in these negotiations, two representatives from the IMF's Ministry of Finance office will actively participate. Approximately ten individuals are expected to be engaged in these economic discussions until the 15th of this month.
Today's negotiations with the IMF began with technical discussions, which encompassed data sharing. Finance Minister Shamshad Akhtar is at the helm of the Pakistani team during these negotiations, and she is receiving valuable support from Treasury Secretary Ahmad Buksh Soomro and FBR Chairman Arif Ahmed Khan.
The sources emphasized Pakistan's full commitment to meeting all the essential conditions outlined by the IMF for the initial review. The nation's performance during the first three months of the assessment holds significant importance, and the successful evaluation of Pakistan is expected to lead to the disbursement of approximately 70 million Dollars by the IMF.
Sources within the Ministry of Finance emphasized that Pakistan has successfully met all the specified targets, including a significant increase in the price of diesel, which has risen from 55 to 60 rupees. However, it's important to note that the ultimate success of this evaluation is subject to approval by the IMF.