Pak-IMF talks under PPM continue

ISLAMABAD –  Pakistan and the IMF continued the talks under Post Programme Monitoring (PPM) on Friday in Islamabad.

Talks between two sides entered into fourth day on Friday. The IMF team has started 10 days parleys with Pakistani authorities here in Islamabad in order to gauge the economic health of the country on the basis of which the Fund staff will prepare its draft report. The IMF is gauging Pakistan’s capacity to repay the $6.2 billion loan, which was taken in 2013 when the incumbent government took charge.

The IMF delegation has so far, in last four days, held meetings with the officials of Federal Board of Revenue (FBR), Ministry of Finance, and Ministry of Planning Development and Reforms and others.

Sources informed that government can face tough time from the Fund for rising twin deficits, the fiscal deficit and current account deficit. Similarly, the government would give briefing on its privatisation plan including selling of SME Bank and Mari Petroleum within the tenure of the incumbent regime.

The IMF reportedly has questioned Pakistan’s decision to impose heavy regulatory duty on imports. The government had imposed regulatory duty on both essential and non-essential items to control the soaring imports of the country.

It is worth mentioning here that Pakistan has to repay $6.109 billion to the IMF in next six years, starting from 2018.

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