Pakistan and International Monetary Fund (IMF) are set to open talks to review performance of the economy during the last quarter of previous fiscal year as Islamabad is likely to win the fifth loan tranche of $550 million after meeting most of the conditions as stipulated by the IMF
The two sides are scheduled to meet from August 6 to 14 in Dubai, United Arab Emirates, to review the performance of the economy in the last quarter (April-June) of the previous fiscal year, said officials in the Ministry of Finance.
Both sides will also discuss the performance criteria and indicative targets for the first quarter of the new fiscal year, they added.
While the performance in the last quarter largely remained on track on back of certain out of book adjustments, the sources said the IMF is likely to flag the issue of backpedaling on some budgetary measures that could affect the new fiscal year’s budget deficit target.
They added the pace of withdrawing Statutory Regulatory Orders (SROs) and huge increase in backlog of Public Sector Development Programme (PSDP) are likely to be highlighted by the IMF.
