ISLAMABAD: Virtual discussions between officials from Finance Ministry and International Monetary Fund (IMF) mission took place, focusing on critical issues of external financing and revenue generation.

Despite ongoing negotiations, no deadline has been established for approval of loan by IMF's Executive Board, according to sources familiar with matter. During talks, Finance Ministry officials briefed IMF mission on government's efforts to secure external financing. This included updates on loan rollovers and new financing commitments from friendly countries. Sources revealed that timeline has been provided to IMF, with expectations for loan rollovers to be completed by next week. IMF mission emphasised importance of rolling over $ 12 billion in debt before loan can be approved by Executive Board. Federal Board of Revenue officials were also part of virtual talks, talking to IMF team about revenue shortfall. IMF mission has expressed need for FBR to meet its revenue targets for month. In response, IMF has requested detailed plan from FBR to bridge gap caused by shortfall and ensure that revenue targets are met.   In addition to discussions on external financing, sources indicate that Finance Ministry is actively engaged in talks with commercial banks to secure fresh financing. Negotiations are reportedly underway with four different sources for commercial loans, which are expected to contribute to government's broader financial strategy.