Finance Ministry Statement On Talks With IMF
IMF expressed concern about the fiscal and current account situation arising from the government’s actions especially electricity and fuel subsidies and other slippages.
Pakistan’s team led by Finance Minister Mr. Miftah Ismail held a final meeting with the IMF Mission at Doha on the seventh review. The week-long consultations reviewed the fiscal and monetary situation for FY 2022 and proposed measures for FY2023.
IMF expressed concern about the fiscal and current account situation arising from the government’s actions especially electricity and fuel subsidies and other slippages.
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The meetings identified areas of divergence and corrections required in the current account and fiscal deficit. Mr. Nathan Porter, IMF’s Mission Chief, also issued a statement at the conclusion of the meetings.
The IMF team emphasized the importance of rolling back fuel and power subsidies, which were given by the previous administration in contravention of its own agreement with the Fund. The government is committed to reducing the overall budget deficit in FY23.
The government remains committed to reviving the IMF program and putting Pakistan back on a sustainable growth path.
