IMF Reviews Pakistan's Economic Progress Amid Mixed Performance

The International Monetary Fund (IMF) mission has commenced a crucial review with Pakistan's economic officials to assess the implementation of a $7 billion Extended Financing Facility (EFF) alongside a $1.1 billion Resilience and Sustainability Facility (RSF), as outlined in a recent media briefing.

The mixed performance of the program until June 2025 and an unfulfilled revenue collection target are central issues. Finance Minister Muhammad Aurangzeb, leading Pakistan's delegation, hosted the IMF team led by Mission Chief Iva Petrova. Key economic stakeholders, including the State Bank of Pakistan governor and the Federal Board of Revenue chairman, attended the meeting.

Progress in the power sector was overshadowed by a shortfall in revenue collection, approximately Rs 1.2 trillion less than expected last fiscal year. The discussions focused on potential corrective measures, with an emphasis on faster implementation of future targets. The stalled brownfield refinery policy, involving $6 billion in investments, was also raised, aligning with the RSF's objectives to meet European emissions standards.

(With inputs from agencies.)