IMF Validates Tarin, Sheds Fear That Program is Halted

The $6 billion bailout program of International Monetary Fund (IMF) for Pakistan has not been halted but the talks are underway as previously claimed by Finance Minister Shaukat Tarin.

This was said by IMF Spokesperson Gerry Rice who said that the global lender is having open and constructive discussions with the Pakistani authorities.

Rice said that IMF would continue to support Pakistan in achieving objectives of debt sustainability and strong and sustainable growth.

Read Also

Tax on Online Transactions is a ‘Gundha Tax’: Saleem Mandviwalla

The official reiterated that the global fund wants reforms in tax, energy, and social sectors.

He added that it would be important to expedite the implementation of policies and reforms as Pakistan’s recovery is gaining strength.

Finance Minister Shaukat Tarin had also claimed that talks with IMF were underway on Wednesday in the meeting of the National Assembly Standing Committee on Finance and Revenue.

He had asserted that the global lender had assured full backing to Pakistan.

The finance minister told the committee that the 6th and 7th review of Pakistan’s bailout program would be carried out and approved in September.

IMF program had fallen into a grey area after the government presented the budget for the fiscal year 2021-2022.

The opposition parties had claimed that Pakistan would not get its next trench from the global body as the finance minister refused to hike the power tariff and impose new taxes.

However, the claims made by Tarin that IMF program has not been halted and talks are underway have been attested by the global lender itself.