Budget 2024-25: IMF all praise for the tough decisions

Budget 2024-25: IMF all praise for the tough decisions


A team is expected to reach Islamabad in the coming days to finalise next programme

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ISLAMABAD (Dunya News/Web Desk) – Progress has been made in the ongoing virtual talks between Pakistan and the International Monetary Fund (IMF), as the Washington-based lender praised Islamabad for making tough decisions while preparing the budget 2024-25.

At the same time, the IMF – one of the Bretton Wood Institutions – lauded the role played by different political parties, sources say, as gaining support of allied parties is essential for a coalition government to get the parliamentary support for fiscal and other matters.

The sources say the IMF is very happy with the government decision to reduce tax exemptions and it is expected and its team is expected to reach Islamabad before June 30 so that the deal could be finalised.

Islamabad hoping to secure a “larger” and “longer” IMF programme to the size of $6 billion to $8 billion, which may cover a period of three or four years.

As Pakistan has already fulfilled the preconditions set by the IMF, the hopes are growing that the IMF will approve the bailout package, as reflected in the record-shattering performance of Pakistan Stock Exchange.

Meanwhile, the IMF is hopeful of the National Assembly passing the budget later this week on June 28 or 29.

The comments about the positive role played by political parties came as the PPP on Saturday ended its boycott of National Assembly session, thus paving the way for the passage of Finance Bill 2024-25.

However, both the PML-N and the PPP are still busy in hammering out a final deal on the issue which also involves political matters such as power sharing in Punjab – Pakistan’s most populace province.