The International Monetary Fund (IMF) has insisted on keeping all government institutions under the supervision of the Ministry of Finance. IMF thinks that reforms in governance & private sector are critical to attracting foreign investment. The representative of IMF in Pakistan, Esther Perez Ruiz, has said in her statement that keeping government institutions under the supervision of the Ministry of Finance is part of the planned reforms.
The IMF representative stated that the $3 billion standby arrangement program will expire in early 2024, and reforms in governance & private sector are critical to attaining foreign investment.
Regarding the implementation of the Standby Arrangement Program, Esther Perez Ruiz said that it would be premature to conclude anything about the implementation of the program.
On the other hand, a virtual meeting took place between the officials of the IMF and the Ministry of Finance. Media reports stated that a new plan to reduce the revolving debt of the gas sector was discussed. IMF had asked Pakistan for more clarification on the plan to reduce the revolving debt of the gas sector
