The International Monetary Fund (IMF) has indicated to the Pakistani economic team the need for some further discussions on the industrial promotion package over the next few days.
The Ministry of Finance on Thursday in a statement said that negotiations under the seventh review are continuing as planned and the two sides remain engaged on a regular basis at a technical level through virtual meetings and data sharing.
The focus of negotiations under the seventh review has been on the agreed targets between the two sides, as well as the recently announced relief and industrial promotion packages. There is a consensus that all the end-December agreed targets have been achieved, while progress on other actions mentioned in the Memorandum on Economic and Financial Policies (MEFP) for the sixth review has also been found to be satisfactory.
On the relief package, complete details, including financing options, have been shared with the IMF and a general understanding has been developed.
IMF has, however, indicated the need for some further discussions on the industrial promotion package over the next few days. An understanding is expected to be developed on the said package subsequent to those discussions.
Upon completion of the technical talks, the text of the Memorandum on Economic and Financial Policies (MEFP) for the seventh review will come under discussion. The Government is confident that the finalization of the MEFP would lead to the IMF board meeting towards the end of April.
The government remains committed to completing the IMF program successfully in September.
