Negotiations with IMF for $7 billion loan programme start
Business
Finance Minister Aurangzeb will brief the delegation on the current economic situation of Pakistan
ISLAMABAD (Dunya News) – Pakistan and the visiting delegation of global donor, IMF (International Monetary Fund), on Tuesday formally started policy negotiations for the next installment of the $7 billion loan programme for Islamabad.
Pakistan's economic team is led by Finance Minister Mohammad Aurangzeb while Nathan Porter is heading the IMF delegation. Federal Board of Revenue (FBR) Chairman Rashid Langrial is also participating in the talks.
Finance Minister Aurangzeb will brief the IMF delegation on the current economic situation of Pakistan. The IMF delegation will present recommendations for the next fiscal year's budget. Pakistan will submit a report on the implementation of conditions set by the IMF under the $7 billion loan programme and a report on the first half of the current fiscal year.
The Pakistani team will brief the IMF delegation on taxes on agricultural income and the real estate sector.
After the negotiations, the IMF delegation will make recommendations regarding the release of $1.1 billion tranche to Pakistan.
The talks with the IMF mission will continue until March 15.
Earlier, the IMF mission visited the Pakistan Business Council office where they were briefed on energy and tax policies.
Also read: Planning ministry submits Green Pakistan Initiative report to IMF
The Ministry of Finance and Ministry of Planning officials briefed the visiting International Monetary Fund (IMF) delegation during an introductory session regarding the economic review for the release of the next installment of $1 billion from the $7 billion bailout package.
