fbpx mmnews

IMF officials to visit Pakistan next month, discuss subsidies

The Pakistani delegation held several meetings with IMF officials. Source: Finance Division.

ISLAMABAD: International Monetary Fund (IMF) officials. will visit Pakistan in May to discuss issues regarding the subsidies being given by the government on petrol and electricity, said a statement by the Finance Division.

The Pakistani delegation held several meetings with IMF officials — including IMF Deputy Managing Director Antoinette Sayeh, Director Middle East and Central Asia Department Jihad Azour and Pakistan Mission Chief Nathan Porter — in which they discussed pathways to complete the seventh review.

Finance Minister Miftah Ismail aid out his government’s priorities and efforts to bring fiscal discipline while insulating the vulnerable from oil price volatility in the international markets. The IMF expressed support to the Pakistan delegation.

According to the statement, an IMF mission lead by Mission Chief Mr Nathan Porter will visit Pakistan in May to discuss the issues around subsidies on petrol and electricity announced by the previous government.

The Pakistani delegation also met World Bank Managing Director Mr Axel von Trotsenburg, Vice President Mr Hartwig Schafer and other officials. They discussed progress of on-going program loans and projects as well as avenues for further assistance .

The finance minister thanked the officials for the financial and technical support provided by the  World Bank. The officials also assured full support for Pakistan. The delegation also met Vice President IFC, Vice President MIGA and Executive Directors of the IMF.

Earlier Finance Minister Miftah Ismail had his first meetings with senior IMF officials in which he later said the Fund had “talked about removing the subsidy on fuel”.

Ismail laid out the government’s priorities and efforts to bring fiscal discipline while insulating the vulnerable from oil price volatility in the international markets for which the Fund expressed support to the delegation.

Comments: 0

Your email address will not be published. Required fields are marked with *