Pakistan Braces for Challenging IMF Review Ahead

Web DeskSeptember 20, 2023
Pakistan Braces for Challenging IMF Review Ahead

During a meeting of the Senate Standing Committee on Finance in Islamabad, former Federal Minister for Climate Change, Sherry Rehman, voiced concerns about Pakistan’s upcoming review with the International Monetary Fund (IMF).

She highlighted the country’s pressing economic challenges, including rising inflation, petrol prices, a $4.5 billion gap in external financing, and reports of a Rs. 1 trillion increase in the fiscal deficit. Rehman expressed disappointment over the absence of Caretaker Finance Minister Dr. Shamshad Akhtar from the meeting.

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The committee also addressed financial issues faced by Azad Kashmir, with Prime Minister Chaudhry Anwarul Haq and Senator Saadia Abbasi emphasizing the need to reduce wasteful expenditure.

To resolve these problems, a sub-committee will be established to review Azad Kashmir’s budget and hydel projects, inviting stakeholders from the Ministry of Finance and the Ministry of Energy to participate.

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