PTI govt facing pressure for external payments: IMF
Pakistan facing tough economic challenges in backdrop of rising imports bill and shrinking exports
ISLAMABAD (Dunya News) – The International Monetary Fund (IMF) on Thursday said that the PTI government is facing pressure for external payments.
The policy dialogues between Pakistan and IMF have ended today.
Sources told Dunya News that the regulator expressed reservations over the procedure of the NFC award.
The Mission suggested that under the pressure of foreign payments, the share of the federation is low and the NFC Award should be reviewed for reducing the loss.
The senior officials of the finance ministry briefed the IMF delegation and apprised them about development and non-development expenditures.
The finance ministry officials also presented financial plan and apprised the IMF delegation of provincial financial plan.
Meanwhile, the delegation also visited the Benazir Income Support Programme (BISP) headquarters as part of their ongoing visit to Pakistan to assess the economical and financial challenges faced by the country.
The delegation led by Harald Finger in his brief remarks appreciated the BISP performance and contribution towards the national social protection and helping the vulnerable to fight poverty while addressing the issue of malnutrition and stunted growth.
He pointed out the overall economic challenges faced by the country and said that social protection is one of the key areas to be focused. He added that BISP has impressive engagement working model to address the wider canvas of social protection.
Sources said that the phase of policy dialogues has ended today and the talks for the loan would start from today (Friday).
During the loan dialogues, the progress report of the institutions would be presented.
Pakistan is facing tough economic challenges in the backdrop of rising imports bill and shrinking exports besides a decline in foreign direct investment and the government s inability to expand the tax net.
According to the Pakistani central bank s data, the country s current account deficit has increased by 43 percent to 18 billion US dollars in the fiscal year of 2017-18, which ended in June this year. Pakistan s fiscal deficit has also exaggerated to 6.6 percent of the country s Gross Domestic Product.
