ISLAMABAD: The Ministry of Finance remains hopeful for a positive outcome of talks between Pakistan government and International Monetary Fund (IMF) regarding final review of $3 billion standby arrangement.
Headed by Nathan Porter, the IMF’s assistant director of Central Asia and Middle East department, the mission arrived in Islamabad and held talks with finance, energy, and Federal Board of Revenue (FBR) officials.
Pakistani officials, including Finance Minister Muhammad Aurangzeb and Energy Minister Musadik Malik, apprised IMF delegation of the measures taken to implement the lender’s reforms.
The last review, if successful, will release a tranche of around $1.1 billion, the ministry had said. Islamabad had secured the last-gasped rescue package last summer to avert a sovereign default.
According to sources, the Ministry of Finance was optimistic about a positive outcome of the final review. Sources quoting the finance ministry officials claimed that the global lender has not yet imposed any new conditions under the existing programme.
The negotiations regarding the final review will end tomorrow, as per the schedule announced earlier. Talks with IMF are underway in a “constructive and positive manner”, sources added.
Pakistan has fulfilled all the important conditions regarding the final assessment, sources claimed, adding that the success is subject to the IMF’s satisfaction.
Earlier in the day, it was reported that the government of Pakistan ‘assured’ the International Monetary Fund (IMF) of expediting the privatisation programme.
According to sources within the finance ministry, the privatisation of Pakistan International Airline (PIA) is proceeding as per the plan and efforts are underway to complete the process soon.
Sources said that the federal government has also prepared a plan to privatise the power-sharing companies. The other loss-making state-owned enterprises including First Women Bank, state life insurance, Pakistan Engineering Company are also on the list.
Sources revealed yesterday that Pakistan is likely to sign the staff-level agreement with the International Monetary Fund (IMF) next week.
Earlier, Accusations of betrayal flew back and forth in the National Assembly on Friday as the government laid seven IMF-directed controversial ordinances before the house and then sought approval of their extension for another four months amid strong protest by the opposition PTI and even the government’s key ally PPP. When PTI’s Omar Ayub Khan asked the chair to take a picture of those members “who are selling Pakistan” by supporting these ordinances, Law Minister Azam Nazeer Tarar respond-ed immediately and dubbed the PTI members “traitors and anti-state” for writing letters to the Inter-national Monetary Fund (IMF) and the European Union. Though PPP members initially opposed the government’s move to table the ordinances that the care-taker government had promulgated in line with IMF conditions, they later voted in favour of the gov-ernment when Speaker Ayaz Sadiq put the motion for a vote after the opposition challenged his ruling on the voice vote. –Agencies
