Pakistan and International Monetary Fund (IMF) would hold the 7th review under the extended fund facility (EFF) arrangement next month (May) in which focal point of the discussion would budget 2015-16, efforts for revenue generation and work done in energy sector.

This was discussed during a meeting of Resident Representative IMF for Pakistan, Tokhir Mirzoev and Finance Minister Ishaq Dar here on Tuesday. Mirzoev has recently assumed responsibilities of his office in Pakistan.

The Finance Minister welcomed Tokhir Mirzoev to Pakistan and exchanged views with him on the current profile of Pakistan’s economy and the forthcoming 7th IMF review. The senior IMF official said the budget 2015-16 outlook and Pakistan’s efforts for revenue generation would be the focal point of discussion in this review besides the work done in the energy sector.

The Finance Minister said Pakistan had successfully conducted record six reviews with the IMF though in the past governments had not gone beyond two reviews. This had been possible due to the hectic reforms process that the government had religiously implemented, yielding positive results, the Finance Minister remarked. He said that the PML-N government had taken measures to set the economy on the right track not just for re-engagement with international financial institutions but for the general good of the country and the masses. It was in our national interest that we achieve an economic turn around and we have made all out efforts to make this happen, Dar said.

The Minister said he looked forward to the 7th review with full confidence as Pakistan had fulfilled all its obligations and now boasted of a stable economy. Pakistan’s economy was held in esteem by international rating agencies, and in fact Moody’s had already enhanced Pakistan’s economic outlook from stable to positive, Dar added. He also made special mention of Pakistan’s continued struggle for elimination of terrorism and said peace and security would ultimately benefit the economy.

Tokhir Mirzoev wished all the success to Finance Minister and his team in their efforts for economic progress in the country. He added that he looked forward to meeting with the Minister in Washington during spring meetings of IMF and World Bank.

Secretary Finance, Dr Waqar Masood, Advisor Finance Division, Rana Assad Amin and Joint Secretary, Minister’s Office, Awais Manzoor Samra attended the meeting.