IMF begins review talks on Pakistan’s $7bn loan program

By MG News | March 06, 2025 at 10:36 AM GMT+05:00

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March 06, 2025 (MLN): The International Monetary Fund (IMF) has begun review talks under Pakistan’s $7 billion loan program, with a primary focus on economic and structural reforms.

The IMF delegation will be briefed today on matters related to the power and gas sectors.

The delegation will hold meetings with officials from the Power Division and the Petroleum Division.

Indicate that the IMF team will be briefed on the implementation of targets related to the power and gas sectors.

The delegation will receive a briefing on the privatization of electricity companies and the status of circular debt.

Additionally, the IMF will be updated on the reforms initiated in the power sector.

The IMF team will also be informed about negotiations with Independent Power Producers (IPPs).

Pakistan has achieved the targets agreed upon with the IMF by December 2024, according to press release..

Government sources claim that circular debt in the power sector is now under significant control.

As of December 2024, the circular debt in the power sector stood at Rs2,38bn, whereas in June 2024, it was Rs2,39bn.

In the first phase, three state-owned electricity distribution companies are being privatized.

The IMF delegation will be briefed on progress regarding the privatization of electricity companies.

The first phase will see the privatization of Islamabad Electric Supply Company (IESCO), Faisalabad Electric Supply Company (FESCO), and Gujranwala Electric Power Company (GEPCO).

A financial advisor has already been appointed for the privatization of electricity companies, sources confirm.

In July 2024, the base electricity tariff was increased by Rs7.12 per unit.

The quarterly electricity tariff adjustments are being implemented on time, sources confirm.

The hearing on the second quarter adjustment for the current fiscal year has already taken place in NEPRA.

The IMF delegation will also be briefed on the status of circular debt in the gas sector.

Furthermore, the IMF will be given a briefing on the reforms being implemented in the gas sector.

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