ISLAMABAD: The International Monetary Fund (IMF) has linked a six-month extension in the amnesty scheme for the construction industry with stringent conditions of timeline, nature and goals, aimed at providing support to the most vulnerable segments of the population, suffering due to COVID-19 crisis.

This was confirmed by Teresa Dabán Sanchez, IMF Resident Representative in Pakistan when Business Recorder asked whether the IMF was on board on an extension in the construction package.

Sanchez said that the Fund is providing advice to member countries in these difficult times. “IMF’s advice to Pakistan as well as to other member countries is to continue implementing policy actions that are targeted, temporary, focused on providing support to the most vulnerable segments of the population, and consistent with their fiscal and financial envelope,” she said.

Sanchez added “because of the ongoing second wave of contagions the COVID-19 is still posing sizeable challenges and slowdown to the world economy and to Pakistan. In Pakistan one of the challenges is a large negative impact on low-income segments of the population, and in particular daily wage workers.”

Copyright Business Recorder, 2021