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ISLAMABAD: Federal Minister for Finance and Revenue Ishaq Dar has said that Saudi Arabia and the United Arab Emirates (UAE) have intimated to the International Monetary Fund (IMF) on financing to Pakistan.

The minister said Saudi Arabia had conveyed to the IMF $2 billion financing to Pakistan while the UAE had confirmed support of $1 billion. This was the Government of Pakistan had met all the conditionalities of the IMF for the revival of the loan agreement, he added.

The Finance Minister has said that all preconditions for an Staff Level Agreement (SLA) between Pakistan and the IMF have now been implemented.

IMF official has expressed confidence SLA will be signed soon, says Pakistan’s Finance Division

The Finance Minister has expressed the hope that the International Monetary Fund will finalize the staff-level agreement with Pakistan soon and present it to the IMF executive board for approval.

Last week, the Pakistan government shared a financing plan for another Rs3 billion with the IMF, as reportedly, there is a possibility of receiving funds from commercial banks, including World Bank and the Asian Infrastructure Bank.

Pakistan’s finance minister had earlier held a virtual meeting with Martin Raiser, South Asia Vice President of the World Bank.

The meeting was part of the World Bank-IMF Spring Meetings 2023 held in Washington, said a Finance Ministry news release.

The minister informed the WB vice president about the completion of World Bank-supported reforms, especially those supported under the Resilient Institutions Strengthening Programme-II (RISE), under which major reforms like harmonization of GST had been completed.

He thanked the World Bank team for supporting Pakistan on flood rehabilitation and reconstruction.

Speaking on the occasion, Martin Raiser appreciated Pakistan’s efforts on ensuring expeditious processing of all flood related projects.

He thanked the Pakistani side on completing reforms under the RISE programme which would contribute to ensure macroeconomic stability in the country.

Comments

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Ash Chak Apr 25, 2023 06:39am
This guy has been making the same statement since October of last year.
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Fazeel Siddiqui (Overseas Pakistani) Apr 25, 2023 11:57am
A next level of shameless & obstinate character but absolute face of Pakistan Military Driver govt of PML/PPP.
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Fazeel Siddiqui (Overseas Pakistani) Apr 25, 2023 12:00pm
He keeps accepting that they are failed to secure an agreement with IMF, PDM confesses that whether domestic or international nobody trusts them or say state of Pakistan is lost.
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Mian Nawaz Sharifshit Apr 25, 2023 01:05pm
Lies, lies and damned lies. This goof needs to spell out the actual reasons why IMF has not budged and is insisting that the PK govt implements them before any further progress. Buying Russian oil has not helped either.
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Ch K A Nye Apr 25, 2023 02:44pm
He still thinks that people believe him. The man is a liar.
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Madiha Apr 25, 2023 03:54pm
He has been saying this since ages now. The economy has come to a halt and sooner or later deindustrialization will began. Time to wake up and think collectively for Pakistan. People with Pakistani nationality only and those whose kids are in Pakistan should work for Pakistan. These people have nothing to loose with their dual nationality and children residing and studying abroad.
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AmirSh Apr 25, 2023 05:01pm
You see this guy' s face and you already know what he is going to say. Nothing compares to him. LIAR!!!
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Adnan Apr 25, 2023 06:48pm
Daar's befitting reply
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Muhammad Ali Apr 27, 2023 03:57pm
PEEDM will declare public holiday when Munshi Level Agreement would be signed. Dooms day getting nearer.
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