Substantive progress made in negotiations with IMF

ISLAMABAD, Nov 20: The government has made substantive progress in negotiations with the International Monetary Fund (IMF) for developing a common understanding on the policy and structural reforms framework, including fiscal and monetary measures, corrective interventions for balance of payments sustainability, pro-poor spending, governance and development of a business-friendly environment, for the prospective IMF programme.

The positive engagement with the Fund would continue over the coming weeks to finalize the programme, a press release issued by the Ministry of Finance here Tuesday said.

An IMF mission, led by Harald Finger, visited Pakistan from November 7 to 20 and held extensive talks with the  ministries of Finance, Planning, Development and Reform, and Energy, besides the State Bank of Pakistan. The discussions covered all sectors of the economy.

Members of the parliament and provincial finance ministries also exchanged views with the IMF mission.

Federal Minister for Finance Asad Umar, who chaired the concluding session with the mission, acknowledged the support that the Fund was providing in achieving the government’s broad-based development agenda aimed at enhancing the social and economic well-being of the people.

(APP)