WASHINGTON: Minister for Finance and Revenue Miftah Ismail says the International Monetary Fund has agreed to send its mission to Pakistan in the middle of the next month for the continuation of the Extended Fund Facility programme.
Addressing a press conference in Washington, the minister said he and his team had very good discussion with the IMF, the World Bank and IFC.
He said the incumbent government will fulfill all sovereign commitments made by the previous governments with IMF and regarding CPEC.
The Finance Minister said Pakistan has never defaulted in last 70 years and will not default in future too. He, however, said there had been excessive budget deficits which led to increase in debts.
He said the incumbent government will try its best to reduce debts by enhancing overall GDP.
Replying to a question, Ismail said Pakistan cannot afford to continue subsidies on petroleum products due to its economic condition.
Read more: IMF officials will visit Pakistan next month to discuss subsidies
International Monetary Fund (IMF) officials. will visit Pakistan in May to discuss issues regarding the subsidies being given by the government on petrol and electricity, said a statement by the Finance Division.
Earlier, the Pakistani delegation held several meetings with IMF officials — including IMF Deputy Managing Director Antoinette Sayeh, Director Middle East and Central Asia Department Jihad Azour and Pakistan Mission Chief Nathan Porter — in which they discussed pathways to complete the seventh review.
According to the statement, an IMF mission lead by Mission Chief Mr Nathan Porter will visit Pakistan in May to discuss the issues around subsidies on petrol and electricity announced by the previous government.
