All IMF Conditions Met, Assurances From Saudi Arabia, UAE to Arrive Soon: Minister

The meeting of the Senate Standing Committee on Finance and Revenue was held under the chairmanship of Senator Saleem Mandviwalla at Parliament House today.

Senators raised the issue of delay in the agreement with the International Monetary Fund (IMF). Minister of State for Finance and Revenue Aisha Ghaus Pasha informed the committee that all IMF conditions had been completed and assurances on financing from friendly countries will arrive soon.

Pasha acknowledged the difficulties faced by the country but added that the present government had restored the IMF program.

She said that this time the lender wants no leaf unturned and the government has complied with everything thrown its way. She reminded the panel that the government has imposed Rs. 170 billion in additional taxes, and implemented more price hikes and reforms in the energy sector.

The minister said there were concerns about securing financing from brotherly countries. As of yesterday evening, progress had been made on this issue. She reiterated that all IMF agenda items have been met by Pakistan and there was no cause for worry at this point in time. China has helped us and assurances will come from Saudi Arabia and the United Arab Emirates, she added.

Regarding the proposed relief package for petroleum users, Pasha said it hasn’t been discussed with the IMF so far. Meanwhile, the design of the package isn’t complete and work is still ongoing to complete it, she added.

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