IMF validating data shared by Pakistan, says Tarin

Published October 16, 2021
Finance Minister Shaukat Tarin addresses a seminar at the Pakistan Embassy in US on Friday. — PID
Finance Minister Shaukat Tarin addresses a seminar at the Pakistan Embassy in US on Friday. — PID

WASHINGTON: Finance Minister Shaukat Tarin said on Friday that some members of the Pakistani team visiting the US would stay in Washington till Tuesday to finalise the resumption of the IMF loan facility.

Addressing a news conference at the Pakistan Embassy, the minister said the finance secretary would stay in Washington for continuing the talks with the IMF while the governor of State Bank and he would be in New York and join the talks virtually.

The International Monetary Fund (IMF) had earlier said that it was holding open and constructive discussions with Pakistan on the 6th review of its financial package and stood ready to support the country in achieving its objectives of debt sustainability.

Minister says negotiating team will stay in US to finalise resumption of loan facility

In July 2019, the IMF approved a 39-month arrangement under the Extended Fund Facility (EFF) for Pakistan for an amount of $6 billion to support Islamabad’s economic reform programme.

Mr Tarin said that in the next few days, Pakistan and the IMF would issue a joint statement, announcing the resumption of the loan facility. After the announcement, the IMF would release about a billion dollars to Pakistan, he added.

The minister said Pakistan had shared some statistics with the IMF on power and gas tariffs and tax collection.

“They said they are validating the numbers we shared with them and will get back to us,” he said. “We told them that we welcome the review.”

The minister said that this quarter, the government had collected Rs175 billion of additional value, “which have we shared with the IMF”.

Mr Tarin said that during the visit he also held meetings with US officials and Turkish minister.

SBP Governor Reaz Baqir, who accompanied Mr Tarin, spoke about current account deficit.

Published in Dawn, October 16th, 2021

Now you can follow Dawn Business on Twitter, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

Editorial

Road to perdition
Updated 01 Feb, 2023

Road to perdition

This is also the time of reckoning for those who sowed the seeds of a disastrous policy against militants.
Transport tragedies
01 Feb, 2023

Transport tragedies

TWO tragedies over the weekend illustrate the weak protocols governing the safety of transport in Pakistan. In fact,...
Disqualifying Jam Awais
01 Feb, 2023

Disqualifying Jam Awais

IT appears that there may be some kind of small punishment after all for PPP lawmaker Jam Awais, who was pardoned ...
Police Lines bombing
Updated 31 Jan, 2023

Police Lines bombing

Where the menace of terrorism is concerned, the government and opposition need to close ranks and put up a united front.
Oil price hike
31 Jan, 2023

Oil price hike

THE record single-day increase in petrol prices, preceded by massive currency depreciation, signifies the ...
Babar Azam’s award
31 Jan, 2023

Babar Azam’s award

BABAR Azam might not have lifted many trophies as Pakistan’s all-format captain in the last year but the star...