ISLAMABAD: An IMF mission is reported to have already arrived in Islamabad to start a technical discussion with authorities on Tuesday (today), which would continue till Friday (Feb 3).
According to multiple sources, IMF mission chief for Pakistan Nathan Porter arrived in Islamabad last night to kick start second phase of policy negotiations would continue till Feb 9 to finalise a memorandum of economic and financial policies (MEFP).
Media outlets believed to be close to the current government claimed that the PDM-led government’s maximum effort with the IMF would be to secure an arrangement that entails burden of massive fiscal adjustment on the principle of ability to pay amid an already hard-pressed majority population, an official said, adding this would mean all segments of society, including the middle class, civil administration, armed forces and judiciary, would have to sacrifice the kind of lifestyle that is no more sustainable.
They said implementation of all the conditions, however, carries the risk of eroding the coalition government’s remaining political capital – provided the IMF does not budge from its stance.
According to finance ministry sources, the IMF has not yet responded to the new roadmap shared by Pakistan, showing that initial efforts have not been very successful. The Ministry of Finance will try its best to convince the IMF that all the pending actions cannot be implemented at once, they added.
