Shehbaz, Dar assure IMF mission of following strict terms, achieving targets

Dr. Aisha Ghaus-Pasha, Minister of State for Finance and Revenue, reassured the public by stating that the government would make certain that the affluent and privileged sections of the country would bear the brunt of any increased power tariff.

Additionally, she stated that the government is getting close to resuming its loan program with the International Monetary Fund (IMF).

The IMF and the Finance Ministry are currently having policy-level discussions, which will conclude on Thursday (Feb. 9).

In a virtual meeting with the IMF mission from Lahore, the prime minister promised to adhere to strict conditions and accomplish goals.

Dr. Ghaus-Pasha asserted that the country’s laypeople would not bear the brunt of the IMF conditions; rather, the wealthy would bear the brunt of the increased electricity tariff.

She stated that all of the decisions in this regard have been approved by Prime Minister Shehbaz Sharif.

She says that the government and the IMF should close the deal soon, adding that the country needs the loan program back.

With only one day remaining until the talks come to an end, Islamabad is still waiting for the draft of the Memorandum for Economic and Financial Policies (MEFP).

Pakistan was requested by the multilateral creditor to reduce the development budget and guarantee an increase in revenue and the tax collection target.

Pakistan and the International Monetary Fund (IMF) are in talks to finish the ninth program review, which if it is successful, could unlock a $1.1 billion loan tranche.

Foreign Minister Bilawal Bhutto-Zardari has urged the IMF mission in Pakistan to be more lenient with its conditions regarding the release of the loan funds.

The flood victims were reassured by the chairman of the PPP that the federal government would repair their homes and grant them ownership rights.

He stated that flood victims’ rehabilitation required Rs1.5 billion.

At a conference in Karachi on Wednesday, he launched the release of funds for building houses for Sindh’s flood-affected residents.

The purpose of the conference, which was jointly organized by the Sindh government and the United Nations Development Program, was to discuss the rehabilitation of flood-affected areas in Sindh’s eight districts—Larkana, Sukkur, Dadu, Hyderabad, Thatta, Shaheed Benazirabad, Umerkot, and Tando Allahyar—that were affected by the flood.

On the occasion, Sindh Chief Minister Murad Ali Shah stated that the floods in the province had damaged approximately 2.1 million homes.