IMF officials, Pakistan PM discus bailout package

Prime Minister Imran Khan receiving the IMF delegation

By Nasir Aijaz
AsiaN Correspondent

Islamabad: International Monetary Fund’s (IMF) Director Middle East and Central Asia Jihad Azour met Prime Minister Imran Khan at the PM Office here on Tuesday.

Adviser to Prime Minister on Finance Dr Abdul Hafeez Sheikh and Governor State Bank Dr Reza Baqir were present in the meeting.

The IMF delegation discussed the bailout package and the federal government’s measures during the meeting with the prime minister.

The IMF delegation arrived in Islamabad on a five-day visit to discuss the financial bailout plan with the economic team of Pakistan.

IMF Director for Middle East and Central Asia Jihad Azour is leading the delegation.

According to reports, the IMF has so far released around $1 billion of the promised $6 billion bailout plan finalized back in July. A formal review of the implementation of the bailout is expected later in November.

The IMF delegation will meet Adviser to Prime Minister on Finance and Revenue Dr Abdul Hafeez Shaikh, Federal Minister for Economic Affairs Hammad Azhar, and Federal Minister for Planning, Development and Reforms Khusro Bakhtiar.

Last week, the IMF had said that Pakistan needed to increase its tax revenue in order to fund development.

“One of the key elements of the program that the IMF is supporting in Pakistan, Pakistan’s program, is the need to mobilise domestic tax revenue to fund much needed social and development spending while placing debt on a firm downward trend,” IMF Director Communications Gerry Rice said in a briefing.