Pakistan has once again reached out to US officials, urging them to expedite the process of convincing the International Monetary Fund (IMF) to reach a staff-level agreement promptly.
The issue came under discussion during a meeting between US Ambassador Donald Blome and Minister for Finance and Revenue Ishaq Dar.
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According to credible finance ministry sources, the finance minister informed the US envoy that the ongoing programme of Extended Fund Facility (EFF) was going to expire on 30th June 2023. Therefore, the IMF would have to take a decision for the completion of the pending 9th Review under the EFF programme.
“If the policy of no action continued on the part of the IMF, the programme will end in smoke.”
Meanwhile, Donald Blome requested a reduction of the tax burden on certain US companies operating in the country, especially those related to the beverages sector.
To which Dar said he will review the request during the budget-making exercise.
In a statement, the finance ministry on Friday said: “H.E. Mr.Donald Blome, Ambassador of the United States of America to Pakistan called on Finance Minister Senator Mohammad Ishaq Dar and exchanged views on matters of mutual interest and enhancing bilateral economic, investment and trade relations between the two countries.”
The minister shared economic policies and priorities of the government to address the challenging economic environment and bring about economic stability and growth, it added.
It said the two sides exchanged views on matters of mutual interest and enhancing the existing bilateral relations between both countries.
āThe finance minister also informed the envoy about the ongoing IMF programme and assured the dedication of the government to complete the programme,ā the statement said.
Remember that, Pakistan is making efforts with the IMF to revive the stalled EFF programme.
The hopes are dying each day mainly because the ongoing programme of $6.5 billion under the EFF will expire on 30th June.
Earlier IMF chief Kristalina Georgieva while addressing World Bank meeting in Washington said that Pakistan has not reached default and it is hoped that Pakistan will not reach default, Pakistan will not face a situation like Sri Lanka and Ghana.
Kristelina Georgieva, said that it is hoped that Pakistan will successfully complete its current program and extend it to Sri Lanka and Ghana. Such a situation will not have to be faced.
