Federal Budget: Aurangzeb holds virtual consultations with IMF

ISLAMABAD: Federal Finance Minister Senator Muhammad Aurangzeb reaffirmed Pakistan’s commitment to continue economic reforms as per IMF recommendations under the $7 billion Extended Fund Facility (EFF) programme.

Finance Minister stated this while participating in a virtual meeting with the International Monetary Fund (IMF) to discuss Pakistan’s economic reforms and preparations for the FY 2025–26 budget.

The talks were also attended by Secretary of Finance Imdad Ullah Bosal and other key members of the economic team. The IMF was briefed on the country’s ongoing economic reforms, fiscal consolidation efforts, and budgetary proposals for the upcoming financial year. He welcomed Iva Petrova, the newly-appointed IMF Mission Chief for Pakistan, and expressed appreciation to outgoing Mission Chief Nathan Porter for his support and cooperation during his tenure.

FY26 budget: IMF team to hold consultations

During the meeting, the IMF team, led by its mission chiefs, assured Pakistan of continued support for stabilising the national economy. Discussions covered key issues such as achieving a primary surplus, enhancing provincial tax revenues, restructuring state-owned enterprises, privatisation initiatives, and right-sizing of public sector institutions.

Virtual consultations between Pakistan and the IMF on the upcoming budget are ongoing, with both parties working towards aligning economic policies and reform measures.