The government has decided to appoint the former Finance Minister, Miftah Ismail, as Finance Adviser to facilitate the negotiations with the International Monetary Fund (IMF).
Sources in the Ministry of Finance informed ProPakistani that until the formal announcement of the federal cabinet is not made, the former Finance Minister, Miftah Ismail, would be appointed as Advisor to the Prime Minister of Finance Affairs to facilitate talks with the IMF.
The government wants to immediately resume talks with the IMF on Extended Fund Facility (EFF) program, as the IMF Board is to approve the disbursement of $1 billion to Pakistan in the coming weeks.
Miftah Ismail will be part of the talks with the IMF, which are starting tonight. Sources say that there is pressure from the IMF to increase the price of electricity and remove the subsidy on petroleum products, which was announced by former premier Imran Khan in his last month in the government. IMF demands an increase in petroleum development levy, which at present is zero, a condition for the approval of the 7th review. IMF has also demanded a change in the income tax slabs and the removal of cross-subsidies in different sectors, especially in the energy sector.
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