LAHORE: The International Monetary Fund (IMF) held meetings with major political parties, including the opposition Pakistan Tehreek-e-Insaf (PTI) to seek assurances of their support for the new deal.
An IMF team led by country representative Ester Perez Luis visited PTI Chairman Imran Khan at his residence in Zaman Park area of Lahore. IMF mission chief for Pakistan Nathan Porter joined virtually from Washington.
The two sides discussed a recent staff-level pact agreed between Pakistan and the global lender for the disbursement of $3 billion under a standby arrangement.
Apart from the PTI chairman, the PTI team included Shah Mahmood Qureshi, Hammad Azhar Shaukat Tarin, Omar Ayub Khan, Sania Nishtar, Shibli Faraz, Taimur Jhagra and Muzammil Aslam. The meeting lasted for more than an hour.
In a tweet after the meeting, PTI leader Hammad Azhar said discussions took place around the staff-level agreement that IMF has reached with the Government of Pakistan for a nine-month $3bn standby arrangement and in this context,
He said the PTI support the overall objectives and key policies. “We welcome the SBA to preserve macroeconomic stability by anchoring external financing and sound policies ahead of the national elections due in the fall of this year and until a new government is formed.”
“We wish to stress the importance of programmes to protect the lower-income segments of the population from high inflation,” he said, adding that political stability and the rule of law is integral to the economic stability of Pakistan.
“Following free, fair, and timely elections as per the Constitution, a new government mandated by the people will initiate reforms and engage on a longer-term basis with multilateral institutions to further economic transformation, higher and more inclusive growth,” he said.
Later, Imran delivered an address via a video link, where he also said the PTI had agreed to “endorse the standby arrangement” with the IMF until elections were held and a new government was formed
He said the new government will hold talks with the IMF according to their own programme. The PTI chief also said that the decision to support the standby arrangement until the elections was taken in view of the risk of default and hyperinflation that the country was facing.
The IMF team called upon Chairman Imran Khan at his residence today. The meeting was attended by IMF country chief Nathan Porter who joined virtually from Washington and Resident Representative Esther Perez who was physically present.
PTI’s team included Chairman Imran Khan,… pic.twitter.com/JxAYclCDBK— PTI (@PTIofficial) July 7, 2023
IMF meets PPP
Federal Minister for Commerce Syed Naveed Qamar held crucial meeting with Ester Perez Luis, the country representative of IMF.
The IMF’s resident representative Ester Perez Luis met with the finance team of the Pakistan People’s Party (PPP), including Naveed Qamar and Saleem Mandviwala.
The meeting, held at minister’s enclave, was aimed at discussing the possibility of a standby agreement with Pakistan, which would have a profound impact on the nation’s financial stability.
The PPP team expressed its willingness to support the IMF programme, citing larger national interests as the driving force behind their decision.
Syed Naveed Qamar, representing the PPP finance team, acknowledged the significance of the standby agreement in addressing Pakistan’s economic concerns.
Ester Perez luis IMF resident representative called on PPP finance team , Syed Naveed Qamar and Saleem Mandviwala ,to discuss standby agreement with Pakistan . PPP agreed to support the program in larger national interest pic.twitter.com/nU40P8gyvc
— Syed Naveed Qamar (@naveedqamarmna) July 7, 2023
