Pakistan-IMF Negotiations Conclude with Emphasis on Economic Reforms

DTD-May 24, 2024

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IMF Report Highlights Pakistan’s Economic Recovery, Calls for Continued Reforms

The discussions also covered the privatization of state-owned enterprises, a significant topic during the negotiations.

Islamabad— The negotiations between Pakistan and the International Monetary Fund (IMF) have concluded, with IMF Mission Chief Nathan Porter issuing a statement on the discussions.

Porter highlighted that extensive talks were held to improve Pakistan’s economy, spanning from May 13 to May 23. He emphasized the critical need for Pakistan to increase its revenue and implement fair tax collection practices.

“Pakistan aims to enhance its revenue collection,” Porter stated. “Fair taxation and energy sector reforms are essential for the country’s economic stability.”

Porter underscored the necessity of reducing energy costs and using monetary policy to control inflation. Additionally, he pointed out the importance of improving the performance of state-owned enterprises.

“Reducing energy costs is crucial,” he noted. “Monetary policy should be employed to manage inflation, and we must enhance the efficiency of public corporations.”

The discussions also covered the privatization of state-owned enterprises, a significant topic during the negotiations. Porter assured that policy dialogues with Pakistan will continue.

The IMF’s recommendations are seen as vital steps towards stabilizing Pakistan’s economy and addressing structural issues. The conclusion of these negotiations marks a critical juncture for Pakistan as it seeks to implement reforms and achieve sustainable economic growth.