2nd review under IMF’s Stand-By Arrangement: discussions on structural reforms, energy sector held

Pakistan Finance Minister Muhammad Aurangzeb discussed structural reforms and energy sector viability in a meeting with the International Monetary Fund (IMF) mission on Thursday, a finance ministry statement said.

IMF mission is in Pakistan to conduct second review of the $3 billion Stand-By Arrangement (SBA).

The mission on Thursday called on the finance minister in the Ministry of Finance.

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“Discussions were held on the overall macro-economic indicators, government’s efforts on fiscal consolidation, structural reforms, energy sector viability, and SOE governance,” the Finance Division said.

During the meeting, IMF mission head Nathan Porter congratulated Muhammad Aurangzeb on his appointment as the finance minister.

The finance minister welcomed the mission and expressed the government’s commitment towards working with the IMF on the reform agenda for economic growth and stability of Pakistan.

IMF mission’s visit to Pakistan may lead to a staff-level agreement on the second review of the SBA.

Pakistan has so far received $1.9 billion from the $3 billion nine-month programme that was approved in July, 2023.

Soon after assuming the office, Aurangzeb unveiled his approach towards the IMF, saying Pakistan may seek a larger and the longest Extended Fund Facility (EFF) of the IMF programme to achieve macroeconomic stability.