IMF technical experts have arrived in Pakistan to discuss a new loan program and assist with budget preparations for the FY2024-25 budget. The team will stay for over 10 days and will work with the finance ministry to finalize important budgetary targets, including loan repayments, government expenditures, and tax collection targets.
ISLAMABAD: The technical experts’ team of the International Monetary Fund (IMF) has landed in Pakistan for talks on a fresh loan programme and budget preparations, well-placed sources informed ARY News on Friday.
As per details, a few members of the IMF’s mission have reached Islamabad to assist finane ministry in finalising the FY2024-25 budget.
The team will stay in Pakistan for more than 10 days, while other members of the IMF mission are likely to reach Pakistan on the night of May 16, the sources said.
The mission will hold talks with Islamabad for a fresh loan programme.
Earlier sources said that the government had expedited preparations for the budget targets before the arrival of the IMF mission. In this regard, the Ministry of Finance has directed relevant ministries to complete targets expeditiously.
The sources said the framework for all important budgetary targets would be prepared and sent to the IMF.
According to sources, the approval of a strategic paper on the FY25 budget will also be sought from the federal cabinet before the arrival of the IMF mission.
Furthermore, an initial estimate will be prepared for loan repayments, government expenditures, pensions, and salaries. The Federal Board of Revenue (FBR) will also determine defense expenditures and tax collection targets.
The recent arrival of IMF technical experts in Pakistan has set the stage for crucial discussions on the country’s budget and loan arrangements. This development comes at a significant time for Pakistan’s economic trajectory, as it aims to address fiscal challenges and seek support for its financial goals. The expertise and experience brought by the IMF team are poised to play a pivotal role in shaping the future course of Pakistan’s economic policies and fiscal strategies. The potential outcomes of these talks are closely being watched by the global economic community, as they could have far-reaching implications. As both parties engage in constructive dialogue, it is hoped that the negotiations will lead to mutually beneficial solutions that support Pakistan’s economic stability and growth.
Source: ARY NEWS
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