Islamabad: International Monetary Fund mission will visit Pakistan later this month to discuss stalled ninth review of country’s current funding programme, lender’s resident representative said.

“On request of authorities, an in-person Fund mission is scheduled to visit Islamabad January 31- February 9 to continue discussions under ninth EFF review,” Esther Ruiz Perez said in message to Reuters.

Mission will focus on policies to restore domestic and external sustainability including strengthening fiscal position with durable and high quality measures while supporting vulnerable and those affected by floods, IMF official added.

Fund will also discuss policies to restore viability of power sector and reverse continued accumulation of circular debt and reestablish proper functioning of forex exchange market to allow exchange rate to clear forex shortage.

“Stronger policy efforts and reforms are critical to reduce current elevated uncertainty that weighs on outlook, strengthen Pakistan’s resilience and obtain financing support from official partners and markets that is vital for Pakistan’s sustainable development,” IMF official was quoted as saying.

Development came day after Pakistan assured United States that it remained committed to International Monetary Fund programme as country’s reserves slipped to just half month import cover after making fresh debt repayment of $ 500 million.

Finance Minister Ishaq Dar met Robert Kaproth, Deputy Assistant Secretary of US Department of Treasury for Asia, according to an official announcement by Ministry of Finance.

During meeting both sides discussed status of IMF programme. Dar briefed US official about measures that Pakistan was taking to revive IMF programme.

IMF has asked Pakistan to implement market-based exchange rate, lift restrictions on imports, increase taxes and electricity prices.

Published in The Daily National Courier, January, 27 2023

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