The finance minister says staff-level negotiations are expected to begin next week, emphasizing that participation in the IMF program is unavoidable.
ISLAMABAD: (UrduPoint/Pakistan Point News-March 12nd, 2024) Federal Minister for Finance Muhammad Aurangzeb, who recently assumed office, said that the current fiscal year poses significant challenges, and Pakistan would soon initiate formal negotiations with the IMF.
The minister said that the International Monetary Fund (IMF) program is inevitable for Pakistan.
He mentioned that staff-level negotiations are expected to begin next week, emphasizing that participation in the IMF program is unavoidable.
The minister pledged to exert all efforts to address Pakistan's existing challenges effectively.
Furthermore, it's worth noting that the federal cabinet approved Finance Minister Muhammad Aurangzeb's request to regain Pakistani citizenship.
Muhammad Aurangzeb also stepped down from his positions as Chief Executive Officer of a private bank and the presidency, which he had held since April 30, 2018.
In addition, Finance Minister Muhammad Aurangzeb is scheduled to visit America from April 15 to 20.
The reports indicate that he will attend the annual ministerial meetings of the IMF and the World Bank in Washington.
The Governor of the State Bank, the Secretary of Finance, and senior officials will accompany the finance minister during his visit.
The ministerial meetings are slated from April 17 to 19, with Muhammad Aurangzeb leading the Pakistani delegation.
