IMF delegation is scheduled to arrive in Islamabad during the last week ofOctober to conduct aq economic evaluation of the standby arrangementagreement. Several government bodies, including the Federal Board ofRevenue (FBR),
Ministry of Energy, State Bank of Pakistan, National Electric PowerRegulatory Authority (NEPRA), and Oil and Gas Regulatory Authority (OGRA),have been directed to prepare reports outlining their progress in meetingthe IMF’s stipulated conditions.
During their stay, the IMF mission will engage in discussions with economicofficials for a period of over one week, with a focus on addressing issuessuch as the circular debt in the energy sector, revenue generation by theFBR, and the market-based currency exchange rate, all of which will becentral topics in the economic assessment.
Additionally, the visiting IMF representatives will assess matters relatedto external financing, the circular debt management plan, and the issuanceof bonds. They will also scrutinize the adjustments and recalibrations ofelectricity and gas prices in accordance with the terms of the standbyagreement.
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The Ministry of Finance has committed to reducing the circular debt in thepower sector by 180 billion rupees by June 2024, as per its assurance tothe IMF.
