Islamabad: Finance Minister Ishaq Dar discussed Pakistan’s economic situation and progress made on International Monetary Fund (IMF) programme with Andrew Dagleish, acting British High Commissioner, who called on Dar at Finance Division.

As per statement released by Ministry of Finance, Dar briefed the envoy on “Pragmatic policies and programmes” that government is implementing to generate revenue and bring about economic stability and growth.

Two sides discussed current macroeconomic situation of world as well as Pakistan. Dar “Briefed envoy on progress in talks with IMF”. High Commissioner said British government will help Pakistan in mitigating socio-economic crisis, read statement. SAPM on Finance Tariq Bajwa, Special Secretary Finance and other senior officers from Finance Division participated in meeting.

Development comes as Islamabad remains in talks with IMF to resume Extended Fund Facility (EFF) programme, which remains stalled till date. Resumption of programmed is crucial for South Asian economy, which has been faced with barrage of woes with perceived default risk and downgrade by international rating agencies reflecting state of economy that has also had to bear major political turmoil and frequent change in key leadership. IMF funding is also critical for Pakistan to unlock other external financing avenues, and two have been negotiating since early February to resume $ 1.1 billion in funding held since November, part of bailout agreed upon in 2019.

Published in The Daily National Courier, April, 13 2023

Like Business on Facebook, follow @DailyNCourier on Twitter to stay informed and join in the conversation.