IMF Support Likely by March 24
The International Monetary Fund (IMF) may finally restart Pakistan’s dormant loan programme on March 24, as the government scrambles to demonstrate progress on more than two dozen requirements after delaying them for more than a year.
In the fourth week of the current month, the IMF executive board could convene to approve Pakistan’s request to finish the second through fourth evaluations and adjust various performance standards. Accorded upon at the staff level structural benchmarks, according to sources in the ministry of finance.
A requirement to examine and rationalize subsidized credit to exporters has also been imposed by the IMF.
The government raised gas prices toward the end of last year as required by the IMF. Compressed natural gas (CNG) outlets, power plants, general industry, and export-oriented industries have already been advised of an increase in gas prices.
The IMF requirements included an increase in electricity prices on an annual and quarterly basis. That has already been done by the government. The administration has also authorized a fresh budget to meet with the IMF once more before taking any further action.
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