Ministry of finance clear the air over media reports of IMF talks failure
Shares
The Ministry of Finance rejected on Thursday what it called speculation regarding the ongoing 7th review of the International Monetary Fund’s (IMF) Extended Fund Facility (EFF), saying that negotiations are "continuing as planned". The ministry said the two sides remain "engaged on a regular basis" at a technical level through virtual meetings and data sharing.
The ministry added that the focus of negotiations under the current review has been on agreed targets between the two sides, as well as recently-announced relief and industrial promotion packages.
Days ago, Finance Minister Shaukat Tarin said the IMF had asked Pakistan to explain how it would fund a $1.5 billion subsidy package link announced by Prime Minister Imran Khan.
“There are no issues. We have given them details as to where the funds would come from,” Tarin said, adding the IMF wanted details of the resources that would fund the subsidy in fuel and electricity, which Pakistan has frozen for the next four months until the new budget.
The IMF said it will need to see the agreements of the dividends of State Owned Enterprises (SOEs) as well as details of the spare funds the central government will get from provinces.
