IMF review begins amid revenue gaps, reform delays

An Inter­n­ational Monetary Fund (IMF) mission led by Iva Petrova held a formal kick-off meeting with Pakistan’s economic team, headed by Finance Minister Muha­mmad Aurangzeb, to review the implementation of the $7bn Extended Financing Facility (EFF) and the $1.1bn Resilience & Sustainability Facility (RSF). The programme’s performance as of end-June 2025 — the period under review — has been mixed. The start of the next review period, ending December this year, has also been off the mark, particularly in revenue collection. The two sides now have to agree on corrective measures during their dialogue to meet the next biannual targets. The opening session was attended by key economic stakeholders, including the State Bank of Pakistan governor, finance secretary and chairman of the Federal Board of Revenue (FBR).