Finance Minister Senator Ishaq Dar, negotiations between Pakistan and the IMF have neither broken down or come to an end.
Pakistan-IMF talks have neither failed: Ishaq Dar stated during a press conference today that the ninth review of the IMF programme would be finished this month. “Our discussions with the IMF are ongoing and not yet finished. Fitch has already made the payment that raised concerns.
There is no problem with payments through June 30 and the Pakistan-IMF negotiations have not broken down. Up until June 30, we will make all required payments on time.
Before starting talks with the IMF, the finance minister argued that some people want Pakistan to become more like Sri Lanka. “Geopolitics to default Pakistan is in progress. The State Bank Act modifications are unbearable. The State Bank Act has also been modified, however it is not yet complete.
Dar claimed that State Bank is a Pakistani bank and is not a member of any international organisation. Making bond payments on time is a top priority for us.
Ishaq Dar denied the reports, saying that the federal government would not decide to freeze gold, lockers, or Roshan Digital Accounts. He continued by saying that Pakistan’s adversaries are instilling terror in the population by talking lies.
He criticised the previous Pakistan Tehreek-e-Insaf (PTI) administration, claiming that during the previous four years, debts rose from $70 billion to $130 billion.
Pakistan’missed’ the chance.
On Thursday, the International Monetary Fund (IMF) voiced its displeasure with Pakistan’s recently proposed budget.
Pakistan hardly has enough foreign exchange reserves to pay for imports for a month. The IMF has insisted on a number of criteria before it makes any more disbursements. It had intended to have $1.1 billion of the money delivered in November.
Ongoing policy discussions with Pakistan. Esther Perez Ruiz, the resident representative of the International Monetary Fund for Pakistan, claimed that the draught FY24 Budget’misses’ a chance to enlarge the revenue base in a more progressive manner.
Esther Perez Ruiz went on to say that the extensive list of additional tax expenditures undermines the resources required for the Benazir Income Support Program’s needy recipients and further lessens the fairness of the tax system.