‘So far, so good’: Aurangzeb says talks with IMF headed in right direction

Finance Minister Muhammad Aurangzeb on Wednesday said that talks with the International Monetary Fund (IMF) were headed in the “right direction”. An IMF mission led by Iva Petrova held a formal kick-off meeting with Pakistan’s economic team to review the implementation of the EFF and RSF. The programme’s performance as of the end of June this year — 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. Today, Aurangzeb spoke to reporters as he left a meeting of the Senate Standing Committee on Finance and Revenue in Islamabad. The minister told reporters that the $7.1 billion Extended Fund Facility (EFF) and the $1.1bn Resilience and Sustainability Facility (RSF) were being reviewed.