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ISLAMABAD: The International Monetary Fund (IMF) Executive Board meeting scheduled for March 1 (today) will not consider approval of the next tranche for Pakistan as the ninth review under the Extended Fund Facility (EFF) programme remains pending.

According to the IMF Executive Board calendar available on its website, the next meeting is scheduled for March 6 and then again on March 8, 2023; however Pakistan is not on the agenda though it could be added in the event that the ninth review is declared a success.

Why IMF lending still stalled?

As per the IMF Staff report “Pakistan: Seventh, and Eighth Reviews of the extended arrangement”, the proposed schedule for ninth review was November 3, 2022 but was delayed due to failure of the government to implement agreed time bound conditions and structural benchmarks, as well as, violation of the spirit of the agreed seventh/ eighth review particularly with respect to controlling the rupee rate artificially without the necessary reserves to intervene in the market and extending Rs 110 billion unfunded electricity subsidy to exporters.

Well informed sources in the Ministry of Finance, on condition of anonymity, told this correspondent of their serious concerns over the three week leave of Minister of State for Finance Ayesha Ghaus Pasha, reportedly one of the key players in the negotiations with the Fund that has been approved by the Prime Minister.

The tenth review’s schedule as per the seventh/ eighth review documents was February 3, 2023, already three weeks and a half overdue.

Copyright Business Recorder, 2023

Comments

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Farooq Mar 01, 2023 09:16am
Main demand of IMF to approve loan to Pakistan is political consensus. IMF wants all political parties on board to sign agreement.
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Rizwan Mar 01, 2023 10:39am
Our "leaders" are shockingly shameless.
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Sardar Mar 01, 2023 01:32pm
Why not we all are still sitting in our home hum log Q bhair nahe arahe in hukmiron ne hmain deya kia hai or aisa kia hai jo inke pass nahe hum Q abhi tak inke rehmo karam ka wait karhe hain Economy nahi Pakistan ki Izaat nahi export nahi agriculture nahi education nahi health nahi sub kuch bhej deya electricity nahi Pani nahi Gas nahe hum sub aj Q IMF ki taraf dekh rahe hain or agar mil bhi gaya to kia hmain kuch milega please koi National Page banao Ab sub bhair ao apne leye apni Family ke leye apne future k leye.
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Pakistan spring Now Mar 01, 2023 01:55pm
Massive revolt boycotting all political parties like srilanka is the need of the hour. If fellow Pakistanis are still quite, there's no scope for improvement at all. Come out on to the streets and boycott elections.
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Pakistan spring Now Mar 01, 2023 01:56pm
Let's storm on to the streets. Look at Srilanka, they know the seriousness of economics unlike us.
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Matt Mar 01, 2023 02:18pm
IMF's message is very clear: They do not want to deal with the Crooks!
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Tulukan Mairandi Mar 01, 2023 03:09pm
Nope. Nobody cares much about a pariah rogue nation that's basically China's bootlicker.
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Abdullah Mar 01, 2023 03:35pm
@Sardar, pehlay ap national page to bana lo.wo to bana nahi aur baqiyon ki family nikal rahay ho bahir.Khud b kuch kar saktay ho ya sirf hakomat ki tarah mangna he ata ha.
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A Riz Mar 01, 2023 03:44pm
Dear IMF, Thank you, we as a nation failed, elites are enjoying perks and poor is going poorer day by day, the crooks are camry for the ones who selected them! We must find way out to get rid from psuedo demoracts... Out of comfort is need of time otherwise more worse ahead
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bonce richard Mar 01, 2023 05:52pm
@Rizwan , We are shameless and shame-proof since 1947. Indian media joking if you need help this is our position. When our army is corrupted what do we expect from them.
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irshad Mar 01, 2023 11:26pm
Ghabrao nahin I know how to deal with IMF . If they don’t want to come don’t come we don’t need the IMF . Famous words of our FM
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Its not f Mar 02, 2023 04:01pm
Imf want a stable government they will not sign any agreement in this situation they are showing only lollipop to this government
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KhanRA Mar 02, 2023 09:16pm
@Pakistan spring Now, Sri Lankans are not Pakistanis. We have been taught our suffering is a test of God. Our government uses religion to keep us numb and dumb, and to keep our expectations low. Why care about your life now when the real reward is after death?
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Awami Mar 03, 2023 02:24am
@Pakistan spring Now, Whatever people do must be peaceful and orderly should not led disturbances.
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نعیم ںھائ Mar 03, 2023 03:28am
Fitna khan last year in govt. Exports 32 billion, remittances 30 billion, imports 80 billion, net loss 18 billion USD. We are still not out of this burden. Shaukat tareen and fitna khan should be behind bars for this criminal administration of economy.
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