US EditionPakistan Finance Ministry Denies New IMF Conditions Under EFF Programme
The Finance Ministry emphasized that IMF benchmarks under the Extended Fund Facility are phased reforms building on prior government initiatives, not newly imposed conditions.
- On Sunday, the Ministry of Finance denied any new conditions under the International Monetary Fund’s Extended Fund Facility, saying benchmarks are phased reforms agreed with the IMF in Islamabad.
- Consultations between Islamabad and the IMF resulted in the Memorandum on Economic and Financial Policies incorporating Islamabad’s planned initiatives, which align with program goals and are phased through successive reviews including government-originated reforms like sugar deregulation by the Minister for Power task force.
- The ministry pointed to reforms such as enhancing National Accountability Bureau effectiveness, privatisation steps for Discos including Hesco and SEPCO, PSO agreements for the seven largest entities, and a 9.3% remittance increase projection for FY26.
- Immediate consequences include effects on external stability, revenue mobilisation, and market reform efforts, with Federal Board of Revenue reforms featuring a roadmap, Transformation Plan, and Tax Policy Office.
- An IMF staff report recommended a study on local currency bond market bottlenecks, building on State Bank of Pakistan efforts, while many benchmarks reflect sequenced medium-term reforms by the government of Pakistan.
12 Articles
12 Articles
IMF targets dubbed ‘new’ benchmarks do not represent ‘imposition of abrupt conditions’: finance ministry
The finance ministry said on Sunday that the 11 targets, being categorised as “new conditions” under the ongoing programme with the International Monetary Fund (IMF), represented “continuity, sequencing, and deepening of Pakistan’s agreed reform agenda” rather than the “imposition of abrupt or unprecedented conditions”. The ministry’s clarification follows reports of the government agreeing to 11 new targets, including additional tax measures an…
Pakistan says IMF has not imposed new conditions under $7 billion bailout
ISLAMABAD: Pakistan said on Sunday some of the reform measures mentioned in the media and linked to the International Monetary Fund (IMF) bailout program are not “new conditions” imposed by the lender but extensions of commitments already agreed under the arrangement. Local media and social platforms have described a series of IMF-linked structural benchmarks as fresh
IMF conditionalities part of agreed reform plan, clarifies Ministry of Finance
The Ministry of Finance clarified, in a statement on Sunday, that there is nothing new in the IMF's Extended Fund Facility (EFF) conditionalities. It stated that the Memorandum of Economic and Financial Policies (MEFP) is a continuation of the agreed reform agenda being implemented in a phased manner for the country's economic stability and sustainable growth. At the start of the IMF program, the Government of Pakistan presented its proposed ref…
No new IMF conditions, reforms align with agenda: finance ministry
MEFP measures part of a phased reform agenda: ministry EFF designed to support medium-term structural reforms.Actions in MEFP derived from forms already undertaken by govt.The Ministry of Finance on Sunday denied the imposition of any...
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