Web Desk
Islamabad: Prime Minister Shehbaz Sharif has instructed the Ministry of Finance to ensure strict adherence to the International Monetary Fund’s (IMF) parameters in the forthcoming budget presentation on June 9.
During a meeting held between the Prime Minister and Finance Minister Ishaq Dar on Tuesday, an informed source expressed optimism that the government would reach an agreement with the IMF.
Contrary to media reports suggesting a populist budget due to the election year, the source emphasized that Pakistan cannot afford to deviate from the IMF’s fundamental guidelines.
The source revealed that the Prime Minister had a lengthy telephonic conversation with the IMF’s Managing Director, Kristalina Georgieva, a week ago, which further bolstered his optimism regarding the revival of the IMF program.
Shehbaz Sharif personally contacted Kristalina Georgieva to revive the stalled $6.5 billion bailout package.
The discussion between Prime Minister Shehbaz and Georgieva took place after the finance ministry failed to resolve the deadlock in loan negotiations over the past four months.
According to the source, the Prime Minister expressed satisfaction after his conversation with the IMF Managing Director. In the same meeting, it was agreed that Pakistan would share detailed budget information with the IMF.
The source also mentioned that the IMF Managing Director indicated a potential revival of the program. Consequently, Prime Minister Shehbaz informed Turkish media on Monday that Pakistan was highly optimistic about finalizing a deal with the IMF this month.
“We remain hopeful that the IMF program will materialize. Our ninth review, which aligns with all terms and conditions, is underway, and we expect positive news this month,” he stated during an interview with Anadolu in Ankara.
The Prime Minister was in Ankara to attend President Recep Tayyip Erdogan’s inauguration ceremony. Shehbaz Sharif emphasized that Pakistan had fulfilled all the required conditions.
“While some of these actions are typically fulfilled after board approval, this time the IMF requested them to be met prior to the board’s approval, and we have successfully accomplished them,” he explained, as quoted by the Turkish news agency.
