IMF staff-level pact likely this week

With the implementation of all major prior actions, Pakistan is eyeing a staff-level agreement with the International Monetary Fund (IMF) this week which will also pave the way for much-awaited credit flows from other bilateral and multilateral lenders. A day after the passing of the Supplementary Finance Bill 2023 in the National Assembly, the top economic team of the PMLN-led coalition government on Tuesday briefed the parliamentary committees on finance on all conditions agreed upon with the Fund. State Minister for Finance Aisha Ghaus Pasha and Secretary Finance Hamid Yaqoob Sheikh responded to questions asked by the members of these committees in meetings held separately who have raised their concerns on modalities agreed upon with the Fund that could trigger a further spike in inflation. MNA Qaider Ahmed Sheikh and Senator Saleem Mandviwalla chaired the meetings of the finance committees separately.