Reforms on agenda as govt-IMF talks begin

The caretaker government and the International Monetary Fund (IMF) kicked off the much-awaited loan review talks on a generally positive note on Thursday, setting the stage for a deep dive into forward-looking reforms under a nine-month bailout package, slated to be completed in March next year. Caretaker Finance Minister Dr Shamshad Akhtar and the IMF’s mission chief for Pakistan, Nathan Porter, led their sides to the opening round of two-week-long negotiations to discuss the next tranche based on Pakistan’s performance in the first quarter that started in July. Mr Porter “appreciated the government’s commitment” to meeting the first-quarter targets, the Ministry of Finance said in a statement after the meeting. He also “commended the government’s efforts and measures taken in some critical areas”, it said. He underscored the importance of continuing these efforts to stay on track for ensuring the country’s economic stability, the ministry said.