ISLAMABAD - Talks between Pakistan and International Monetary Fund (IMF) for the seventh review under the extended fund facility have started virtually here on Friday. The talks are expected to continue for around 10 days.
A spokesperson for the finance minister, Muzzammil Aslam has informed The Nation that talks have started virtually. He further said that the talks would continue for two week.
Pakistan and IMF would hold technical level talks for one week and then policy level talks would take three to four days to conclude the Seventh Review under the EFF arrangement.
Pakistan has so far received $3 billion from the IMF under the $6 billion extend fund facility. Pakistan could receive further $3 billion in next few months from the IMF but it would be subject to completion of the remaining programme reviews. The 39-month IMF programme is to come to an end in September 2022.
Pakistan could face tough time from the IMF on the recent relief package and tax amnesty scheme for the industrialists. The IMF had asked Pakistan not to announce any tax amnesty scheme.
Earlier, in sixth review, Pakistan had agreed with the IMF to impose Rs4 petroleum levy in every month by taking it to Rs30 per liter by the end of June this year. However, the government would not able to fulfil this commitment after Prime Minister announced reduction in oil prices till the end of current fiscal year.