IMF Mission appreciates progress

The International Monetary Fund (IMF) Mission held a plenary meeting with the representatives of the Government of Pakistan from the Ministry of Finance and other related ministries and agencies, here on Wednesday

The Mission is in Pakistan to conduct first quarterly review of the reforms under the Extended Fund Facility (EFF) approved by the IMF Board on September 4, 2013.The IMF  had approved a loan of US $6.64 billion off which an  amount of US544.5 milliom has already  been released as first tranche to Pakistan,

The economic reforms program introduced under the EFF envisages strengthening macroeconomic and structural policies to shore up confidence, reduce economic imbalances, and foster sustained inclusive growth and employment generation.

The meeting was attended by the officials of Ministries of Finance, Commerce, Water and Power, Petroleum and Natural Resources, Privatization, Securities and Exchange Commission of Pakistan and the Federal Board of Revenue.

During the meeting, discussions were held on implementation of various reforms under the EFF. The Mission appreciated the progress on achieving the performance criteria, indicative target and structural benchmark agreed for the first quarter of the Program.

 During the meeting  the course of action for complying with various performance indicators and structural benchmarks also came under discussion.

During its stay the Mission will hold detailed consultations with the respective ministries and agencies on the economic reforms program under the EFF and conclude its review by November 7, 2013.